Banking Executive Accountability Regime

The Australian Treasury has released and completed its consultation process on its Exposure Draft and accompanying Explanatory Material for the Banking Executive Accountability Regime (Size of an Authorised Deposit-taking Institution) Determination 2018.

This draft legislative instrument defines what small, medium and large Authorised Deposit-Taking Institutions (ADIs) under the Banking Executive Accountability Regime (BEAR) are:…

At Norton Rose Fulbright, we have commented on a number of occasions that we expect the Banking Executive Accountability Regime (BEAR) to be extended beyond just authorised deposit-taking institutions (ADIs) and so as to cover other areas of the financial services sector.  Such move, which we have previously informally nicknamed “FEAR” (Financial Executive Accountability Regime),…