There’s a BEAR in there…
What is BEAR?
The Banking Executive Accountability Regime (BEAR) is set out in Part IIAA of the Banking Act 1959 and took effect in February 2018.
BEAR establishes accountability obligations for authorised deposit-taking institutions (ADIs) and their senior executives and directors. The regime also establishes deferred remuneration, key personnel and notification obligations for ADIs.
An ADI is a financial institution which is authorised by the Australian Prudential Regulation Authority (APRA) to accept deposits from the…