Vulnerable customers would not be properly protected from exploitation by their telcos under a new code submitted by the industry's peak body, the watchdog says.

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The regulator will still not accept a new Telecommunications Consumer Protection Code after more than 18 months of negotiations, saying it does not do enough to protect consumers.

The Australian Communications and Media Authority (ACMA) rejected the proposed code on Friday, with credit assessments and provision of reliable mobile coverage among the sticking points.

Customers are protected by the code almost every time they speak to their telco as it enshrines protections on sales p

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