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        <title>AdviserVoiceASIC approves temporary COVID-19 changes to the Banking Code - AdviserVoice</title>
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                <title>ASIC approves temporary COVID-19 changes to the Banking Code</title>
                <link>https://www.adviservoice.com.au/2020/06/asic-approves-temporary-covid-19-changes-to-the-banking-code/</link>
                <comments>https://www.adviservoice.com.au/2020/06/asic-approves-temporary-covid-19-changes-to-the-banking-code/#respond</comments>
                <pubDate>Sun, 28 Jun 2020 21:35:44 +0000</pubDate>
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                		<category><![CDATA[Regulation/Reform]]></category>
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                                    <description><![CDATA[<h3>ASIC has approved a variation of the Banking Code of Practice (Code).</h3>
<p>The variation, as proposed by the Australian Banking Association (ABA), involves the insertion of a ‘Special Note’ into the Code to allow for special application of specified Code provisions until 1 March 2021. The ABA has proposed the variation due to the extraordinary external environment caused by COVID-19.</p>
<p>The ABA has published the updated version of the Code including the Special Note. The updated Code can be found on the <a href="http://www.ausbanking.org.au">ABA’s website</a>.</p>
<h2>Background</h2>
<p>ASIC <a href="https://asic.gov.au/about-asic/news-centre/find-a-media-release/2019-releases/19-162mr-asic-approves-an-updated-banking-code-of-practice/">approved</a> the Code in December 2019, for commencement on 1 March 2020.</p>
<h2>Download</h2>
<ul>
<li><a href="https://download.asic.gov.au/media/5642754/asic-corporations-approval-of-variation-of-march-2020-banking-code-of-practice-instrument-2020602.pdf">ASIC Corporations (Approval of Variation of March 2020 Banking Code of Practice) Instrument 2020/602</a></li>
<li><a href="https://download.asic.gov.au/media/5642748/es-asic-corporations-approval-of-variation-of-march-2020-banking-code-of-practice-instrument-2020602.pdf">Explanatory statement</a></li>
</ul>
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                                            <content:encoded><![CDATA[<h3>ASIC has approved a variation of the Banking Code of Practice (Code).</h3>
<p>The variation, as proposed by the Australian Banking Association (ABA), involves the insertion of a ‘Special Note’ into the Code to allow for special application of specified Code provisions until 1 March 2021. The ABA has proposed the variation due to the extraordinary external environment caused by COVID-19.</p>
<p>The ABA has published the updated version of the Code including the Special Note. The updated Code can be found on the <a href="http://www.ausbanking.org.au">ABA’s website</a>.</p>
<h2>Background</h2>
<p>ASIC <a href="https://asic.gov.au/about-asic/news-centre/find-a-media-release/2019-releases/19-162mr-asic-approves-an-updated-banking-code-of-practice/">approved</a> the Code in December 2019, for commencement on 1 March 2020.</p>
<h2>Download</h2>
<ul>
<li><a href="https://download.asic.gov.au/media/5642754/asic-corporations-approval-of-variation-of-march-2020-banking-code-of-practice-instrument-2020602.pdf">ASIC Corporations (Approval of Variation of March 2020 Banking Code of Practice) Instrument 2020/602</a></li>
<li><a href="https://download.asic.gov.au/media/5642748/es-asic-corporations-approval-of-variation-of-march-2020-banking-code-of-practice-instrument-2020602.pdf">Explanatory statement</a></li>
</ul>
<p>The post <a href="https://www.adviservoice.com.au/2020/06/asic-approves-temporary-covid-19-changes-to-the-banking-code/">ASIC approves temporary COVID-19 changes to the Banking Code</a> appeared first on <a href="https://www.adviservoice.com.au">AdviserVoice</a>.</p>
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