- 25 January 2018
The Banking Executive Accountability Regime (BEAR) is likely to be passed quite soon by Parliament. It will apply to Authorised Deposit-taking Institutions (ADIs) including banks and credit unions and, potentially, insurers and superannuation funds. The legislation is in many respects less than clear, particularly with regards to remuneration. How boards interpret the policies and procedures will affect their exposure to risk of breaching the BEAR requirements.