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Showing 1 - 10 of 36 results for "Banking Executive Accountability Regime"

ASIC, APRA issues more FAR guidance

KARREN VERGARA  |  MONDAY, 11 MAR 2024
... institutions (ADIs) for information relating to their existing accountable persons under the Banking Executive Accountability Regime (BEAR) at the transition point to the FAR. The package of materials also asks ADIs for descriptions of key functions ...

Government passes FAR legislation

KARREN VERGARA  |  WEDNESDAY, 6 SEP 2023
... integrity," assistant treasurer Stephen Jones said. "The FAR replaces and extends the Banking Executive Accountability Regime by imposing tough new accountability obligations on banks, insurers, and superannuation funds. The FAR ensures that these institutions ...

Regulators begin FAR consultation

CHLOE WALKER  |  THURSDAY, 20 JUL 2023
... services industry. As previously reported by Financial Standard, the FAR will replace the Banking Executive Accountability Regime (BEAR) and it is designed to improve the risk and governance cultures of all APRA-regulated entities by imposing a strengthened ...

CSLR legislation tabled, advice sector responds

ANDREW MCKEAN  |  FRIDAY, 9 SEP 2022
... government has also finalised the legislation to implement recommendations to extend the Banking Executive Accountability Regime to all APRA-regulated entities and to provide for joint administration between APRA and ASIC. "The new Financial Accountability ...

Major legislations hit parliament

KARREN VERGARA  |  FRIDAY, 29 OCT 2021
... Financial Accountability Regime was also tabled in parliament yesterday. FAR extends the Banking Executive Accountability Regime to all APRA-regulated entities, which will be jointly administered by APRA and ASIC. The FAR increases accountability across ...

FAR draft legislation released

KANIKA SOOD  |  MONDAY, 19 JUL 2021
... Regime (FAR) which will apply to superannuation funds and insurers. The FAR extends the Banking Executive Accountability Regime (BEAR) which has applied to banks since July 2018. In February 2019, the Hayne Royal Commission recommended extending BEAR ...

APRA closes Westpac probe

ELIZA BAVIN  |  FRIDAY, 12 MAR 2021
... closed its investigation into possible breaches of the Banking Act 1959, including the Banking Executive Accountability Regime (BEAR), by Westpac. APRA launched the investigation into Westpac last year following allegations by AUSTRAC that Westpac had ...

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 ...

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 ...

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 ...
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