The deadline for submissions to the broker code of practice review has been extended in response to stakeholder feedback and to account for upcoming public holidays. 

Independent reviewer Phil Khoury says feedback on a consultation paper is now due by May 2, extended from April 11.

A notice on the National Insurance Brokers Association website says the review has attracted strong engagement from members, industry stakeholders and regulators, reflecting commitments to maintaining a code that is relevant and effective in guiding professional conduct. 

The current version of the code took effect in November 2022, apart from section 6.1 on disclosing remuneration, which was introduced a year later. Reviews are scheduled every three years.

Mr Khoury, a former Australian Securities and Investments Commission GM, reviewed the Banking Code of Practice in 2016 and 2021, and oversaw the General Insurance Code of Practice review in 2017.  

A previously published timeline for the review indicated a draft report would be prepared in June, followed by final consultations.