Meet the AFIA Finance Industry Code Compliance Committee (FICCC)

Meet the AFIA Finance Industry Code Compliance Committee (FICCC)

Tim Grimwade, Chair

Tim is the independent Chair of FICCC. He previously held executive general manager roles at the ACCC, leading divisions responsible for consumer, small business and product safety, and legal and economics. He has nearly 30 years of consumer and competition law, policy, regulation and compliance experience, together with public sector leadership. Tim was a member of the ACCC executive management board for 15 years and has significant corporate and board governance capabilities as well as extensive people, project and budget management experience. He is skilled in engagement with key consumer and industry group stakeholders, negotiating industry code compliance, and working with government and counterpart agencies. Tim oversaw major investigations and projects for the ACCC that generated numerous positive outcomes for the public. Prior to joining the ACCC, he was a senior adviser in the Department of the Prime Minister and Cabinet, and before that he worked at the New Zealand Commerce Commission.

Jillian Brewer, Member

Member

Jill is the current Chair of the BNPL Code Compliance Committee, having been nominated by the Consumers Federation of Australia (CFA) as the consumer representative on the CCC. Jill is an experienced lawyer, conciliator, investigator and trainer with more than 20 years’ experience in alternative dispute resolution. She has held senior roles with industry ombudsman schemes in banking and telecommunications, and has also worked in compliance roles at a major bank and as a solicitor in private practice and government. Jill’s career in the financial services industry and retail banking gives her valuable insights as a consumer advocate about consumer perspectives, experiences and needs.

Geoff Coates

Member

Geoff has 40 years of experience in banking, life insurance and funds management and has held board, CEO and senior executive roles in strategy, distribution, products and marketing. He is a business and finance adviser, executive coach and mentor. Geoff was previously Chair of the Advisory Board Centre supporting entrepreneurs through effective, commercially-focused board structures. From 2010 to 2016 Geoff was Chair of Commonwealth Bank Indonesia, and has held a range of executive and other roles over an extensive banking and finance career.

Edward Martin

Member

Ed is a partner at national law firm Gadens. He specialises in major, complex disputes and investigations and has extensive experience acting for clients ranging from multinational and ASX-listed companies to not-for-profits and government. Ed regularly advises on complex commercial disputes, contentious regulatory cases, investigations and commissions of inquiry – particularly those relating to the financial services, education and healthcare industries. His regulatory work involves Australia’s key corporate regulators including ASIC, APRA and the ACCC, although his experience extends to disputes and investigations involving other regulators such as AUSTRAC, the Federal Police and the Australian Communications and Media Authority.

Vicki Mullen

Member

Vicki is the current Chair of the Insurance Premium Funding Code Compliance Committee. Vicki is a senior consultant at Finity Consulting and before that she was a principal at PFS Consulting. From 2019 to 2022, she was an ombudsman at the Australian Financial Complaints Authority, resolving complaints between parties about insurance-related disputes. Vicki has also worked in policy, governance, regulation and consumer relations roles at the Insurance Council of Australia, Financial Services Council and the Actuaries Institute, and in senior roles at several major insurance companies. Vicki commenced her career as a policy officer in the NSW Cabinet Office and then became a senior policy advisor to a cabinet minister.

What is the Role of the FICCC?

The FICCC is an independent committee that has been established under a Terms of Reference to monitor, investigate and enforce compliance with the Finance Industry Code of Practice (the Code).

Functions & Responsibilities

  • Consider applications by AFIA Members to become Code Members
  • Establish and maintain an up-to-date list of Code Members
  • Receive compliance reports to monitor adherence to the Code
  • Investigate alleged breaches within its powers
  • Make determinations on breaches
  • Recommend or take action to remedy breaches
  • Oversee implementation of corrective measures
  • Impose sanctions for uncorrected breaches
  • Exercise powers under By-Laws and Code

Guiding Principles

  • Act fairly, effectively, with integrity and impartiality
  • Be transparent and accountable
  • Communicate clearly with stakeholders
  • Promote the Code and its work

Decision-Making Criteria

When deciding whether a Code Member has breached the Code, FICCC must act independently and consider:

  • Relevant decision-making principles
  • All applicable Code provisions
  • Any protocol about Code requirements

Does FICCC Deal With Complaints?

No. FICCC does not deal with individual complaints or disputes between customers and Code Members about their products.

If you want to make a complaint, contact the Code Member directly — they will handle it through their internal dispute resolution process.