Submission - Joint submission to the 2007 Review of the Electronic Funds Transfer (EFT) Code of Conduct to ASIC (May 2007)

Q26 – Should the EFT Code be amended to cover situations when the subscribing institution is unable to, or fails to, give the dispute resolution body a copy of the record within a certain time? If yes, should the Code specify that a dispute resolution body is entitled to resolve a factual issue to which a record relates on the basis of the evidence available to it?

Case studies have revealed some significant issues with record keeping by financial institutions. The parties to this submission have read and endorse the recommendations on this issue contained in the Consumer Caseworker Submission