Banking Executive Accountability Regime (BEAR) — pre-FAR

BEAR superseded by FAR for banks 15 March 2024; historical exposure remains.

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Who must comply

ADIs + senior executives (historical for conduct pre-15 March 2024).

What triggers it

Conduct during BEAR period.

When due

Historical compliance reporting.

Evidence required

BEAR accountability statements; deferred remuneration records.

Max penalty

Civil penalties under former Banking Act provisions

Summary

BEAR (in force 2018) applied to ADIs from 1 July 2018; required registration of accountable persons, deferred remuneration + breach reporting. Replaced by FAR for banking 15 March 2024. Historical conduct under BEAR remains enforceable.

Enforced by

Source legislation

Industries

Topics

bankingbear

Source: https://apra.gov.au/banking-executive-accountability-regime-bear. Rules Mate is not a law firm. Always verify against the live regulator source before acting.