BEAR implementation

The Banking Executive Accountability Regime (BEAR) will apply to small and medium Authorised Deposit-Taking Institutions (ADIs) from 1 July 2019.

I have produced a 32 minute video on BEAR, including who are accountable persons, their obligations and the sanctions that apply if they, or the ADI they manage, breach their duties.

You can watch it here.

One of the difficult implementation questions is the mapping and overlapping of accountabilities including how the BEAR accountabilities overlap with Responsible Manager duties under ASIC Licences and Corporations Act duties of directors and officers.