Australian Banking Association said that former Australian Securities and Investments Commission (ASIC) Deputy Chair Peter Kell will conduct a five-yearly independent review of the Banking Code of Practice, according to a Monday statement.

The review will include public consultations from customers, consumer groups, small business groups, industry stakeholders, and others.

Consultation with stakeholders is expected to begin in October, with an interim report published in March 2027 and the final report with detailed findings and recommendations released in June 2027.