The Banking Executive Accountability Regime (BEAR) was introduced as part of the 2017-2018 Federal Budget and aims to strengthen accountability and competition in the banking system. Expected to be effective from 1 July 2018, the BEAR as proposed will apply to Authorised Deposit-taking Institutions (ADI’s), their subsidiaries and Australian branches of foreign ADI’s. It grants APRA additional enforcement powers while establishing certain requirements of institutions to demonstrate the process through which decisions are made.
Protiviti’s professionals understand what is required to drive this type of organisational change and have the expertise to assist in complying with this new regulation so you can face the future with confidence.
To help you prepare for BEAR, we have developed a toolkit that covers areas your organisation will need to undertake to be compliant.
Protiviti provides an overview of how the Banking Executive Accountability Regime began and what it aims to achieve.
This paper outlines the requirements, expected impacts and legislation timeline of the Banking Executive Accountability Regime.
This document looks at the top 5 questions executives need to ask themselves in preparing for the implementation of the Banking Executive Accountability Regime.
This paper looks at the similarities between the UK’s Senior Managers and Certification Regime and Australia’s BEAR, outlining common themes and challenges Australian institutions should consider.
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