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Showing 11 - 20 of 46 results for %22Banking Executive Accountability Regime%22

APRA Connect to go live in 2021

KARREN VERGARA  |  TUESDAY, 22 DEC 2020
... information such as responsible persons, address and contact information for the current Banking Executive Accountability Regime (BEAR). Users will need a myGovID to establish their digital identity and be authorised by their organisation to access the ...

Westpac reaches $1.3bn AUSTRAC deal

ELIZA BAVIN  |  THURSDAY, 24 SEP 2020
... exploitation, and two further failures to assess the money laundering and terrorism financing risks associated with correspondent banking relationships. Westpac chief executive Peter King apologised for the bank's failings and said he is committed ...

APRA hands reins to ASIC in AUSTRAC case

ALLY SELBY  |  THURSDAY, 18 JUN 2020
... responsibilities to investigate any matters that contravene accountability obligations under the Banking Executive Accountability Regime (BEAR) and standards of fitness and propriety under the Banking Act to ASIC. In November last year, AUSTRAC exposed ...

Law firm bolsters financial services team

ELIZA BAVIN  |  FRIDAY, 15 MAY 2020
... regulatory practice. Charlotte Henry joins the firm May 18 and will focus on advising clients in regards to Australian banking regulatory matters alongside partners Michael Vrisakis and Fiona Smedley, and consultant Tony Coburn. She will also work with ...

Government opens BEAR extension consultation

HARRISON WORLEY  |  THURSDAY, 23 JAN 2020
... recommended by Commissioner Kenneth Hayne, the government has taken steps to extend the Banking Executive Accountability regime to include super funds and other APRA-regulated entities. Set to be known as the Financial Accountability Regime, the extended ...

Westpac served class action

JAMIE WILLIAMSON  |  WEDNESDAY, 18 DEC 2019
... official investigation into Westpac for possible breaches of the Banking Act, including the Banking Executive Accountability Regime. The investigation will focus on the conduct that led to AUSTRAC's investigation as well as the bank's efforts ...

APRA joins in on Westpac scrutiny

ELIZA BAVIN  |  TUESDAY, 17 DEC 2019
... Westpac, its directors and/or its senior managers breached the Banking Act - including the Banking Executive Accountability Regime (BEAR) - or contravened APRA's prudential standards," the regulator said. "Given the magnitude and nature of the issues ...

Regulators circle as scandal engulfs Westpac

ALLY SELBY  |  WEDNESDAY, 4 DEC 2019
... would confirm by the end of the month whether it would launch legal proceedings under the Banking Executive Accountability Regime (BEAR) against the besieged bank. It comes nearly two weeks after AUSTRAC's explosive exposure of 23 million money laundering ...

APRA proposes new remuneration standard

KARREN VERGARA  |  TUESDAY, 23 JUL 2019
... collective accountability. Deputy chair John Lonsdale said CPS 511 would complement the Banking Executive Accountability Regime to lift industry standards of accountability and reduce the likelihood of misconduct. "Limiting the influence of financial ...

APRA forced to overhaul culture, capabilities

KARREN VERGARA  |  WEDNESDAY, 17 JUL 2019
... being appointed or re-appointed to regulated entities (which is part of the extended the Banking Executive Accountability Regime), and considering changes to its regulatory framework, which includes reviewing penalties. The Government will establish ...