The Code Compliance Monitoring Committee was set up to fail, with any inadequacies down to its resourcing and the failings of the Code of Banking Practice, says independent reviewer Phil Khoury in a report released earlier this week.  Khoury, in parallel with his review of the Banking Code of Practice for the Australian Bankers Association, also conducted a review of the activities of the Code Compliance Monitoring Committee, the independent compliance monitoring body established under the Code.He admits that the CCMC comes in for some criticism from stakeholders, although he found the banking industry were largely satisfied with the performance of the CCMC, and "code signatories" (ie, the 13 banking groups signed up to the code) saw value in the committee's work. But, he says, "its role, positioning and mandate were widely seen as inadequate" amongst non-industry stakeholders.This, Khoury says, was "not a reflection of the performance of the CCMC, but a criticism of the framework (the code, its mandate and its resourcing) within which it operates."His recommendations would see, amongst other things, the CCMC shift its emphasis away from investigating individual complaints in favour of public assurance through more visible, transparent monitoring, reporting effectively and transparently on this monitoring work, adding value to the industry through a greater focus on good practice and continuous improvement.CCMC chair Christopher Doogan said the committee would be considering Khoury's recommendations carefully "and, as appropriate, incorporating them into our three-year rolling work plan.""The CCMC will also be working closely with the Australian Bankers Association, in relation to its response to the code and CCMC review recommendations," he said.