Codes are not required by law in most industries. Generally, the industry codes require companies to have a fair process for dealing with complaints. If you think a company has breached the code, you should write to that company and ask for a response. If you are not happy with their response, you can contact the relevant independent complaints resolution scheme or industry associations. Ask the company which scheme it belongs to.
Some industry associations can impose sanctions if a member breaches their code.
In some cases, a breach of a code may also be a breach of your contract with the financial institution, giving you a right to take legal action for breach of contract. Generally, however, it will be easier and cheaper to use a complaints resolution scheme in the first instance. We generally cannot take enforcement action if a code is breached unless a breach of the law is also involved. However, we are interested in the operation of the codes. We would like to hear of significant non-compliance, which we may publicise in some instances.