Banking Executive Accountability Regime

Insights

Banking Executive Accountability Regime (BEAR)

Community Expectations: The new KPIs?

BEAR was announced by Government in May 2017, and will apply to all Authorised Deposit-taking Institutions, their subsidiaries, and Australian branches of foreign ADIs.

APRA will be responsible for overseeing BEAR and its expectations on banks and other ADIs, as well as senior individuals, to deliver good prudential outcomes, and improve standards of behaviour and accountability.

With a blurred line emerging between prudential and conduct matters, and a reform hurtling forward at some speed, we hope the content below will help you to understand the impact BEAR may have on you, your organisation, and how to prepare for implementation.

Phase 1

The Treasury’s consultation paper is intended to supplement (and not replace) the existing prudential framework and Directors’ and Officers’ duties. It aims to establish a new regulatory regime to encourage senior individuals to take greater responsibility for their actions, and make it easier for both banks and regulators to hold them to account.

Its focus is on culture and the heightened standards of behaviour expected by the community.

This flyer contains our review of the proposals and considers some of the issues within the paper and the questions it inevitably raises as to what will amount to proper behaviour, and what will be needed to evidence this.

The impact of BEAR on your organisation will be of particular interest to:

  • Directors and senior executives
  • Legal, risk and compliance practitioners; and
  • Human resource professionals.

Banking Executive Accountability Regime

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