Who must comply with Banking Executive Accountability Regime (BEAR) — pre-FAR?
The applicability test for Banking Executive Accountability Regime (BEAR) — pre-FAR (APRA), computed across 35 industries, 9 business structures and 6 size bands.
Short answer: Some businesses
Applies when the business has industry: Banks & ADIs.
What the obligation is
BEAR superseded by FAR for banks 15 March 2024; historical exposure remains.
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.
The applicability test
Applies when the business has industry: Banks & ADIs.
How the regulator frames it: ADIs + senior executives (historical for conduct pre-15 March 2024).
What triggers it: Conduct during BEAR period.
Jurisdiction: Commonwealth law, so the test is the same in every state and territory.
Which industries are in or out
Outcome across the 35 industries Rules Mate maps (1 of 35: yes; 34 of 35: no).
| Industry | Answer |
|---|---|
| Banks & ADIs | Yes |
| No | 34 other industries |
Business structure and size
Structure does not change the answer in banks & adis: for every structure the answer is "yes".
Size does not change the answer in banks & adis: at every size band the answer is "yes".
Worked examples
Each line is one run of the Rules Mate applicability engine for a single business profile, with the reason the engine gives:
- Pty Ltd company in banks & adis with 6–19 employees, turnover $1M–$3M: applies. Industry: Banks & ADIs.
- Pty Ltd company in real estate agents with 6–19 employees, turnover $1M–$3M: does not apply. Requires industry: Banks & ADIs.
What you must do, and when
- When due
- Historical compliance reporting.
- Frequency
- Ongoing
- Evidence to keep
- BEAR accountability statements; deferred remuneration records.
- Status
- Superseded
- Priority
- Medium
Penalty for not complying
Maximum penalty: Civil penalties under former Banking Act provisions.
Audit or assurance level
Rules Mate has not yet classified the audit or assurance level for this obligation. Any audit, review or certification requirement is set by the regulator source listed below.
Obligations with the same applicability test
If this obligation applies to you, so does this one: the engine uses the same rule for each.
What usually applies alongside it
Across the 1,890 business profiles Rules Mate evaluates, these obligations apply to most of the businesses this one applies to, and are far more common among them than among businesses generally:
- Consumer Data Right (CDR) participant accreditation + compliance: applies to 100% of the same businesses (35.0× the overall rate)
- Comply with the ePayments Code: applies to 100% of the same businesses (35.0× the overall rate)
- Comply with CDR Banking (Open Banking) — major + non-major ADIs: applies to 100% of the same businesses (35.0× the overall rate)
- Major banks must provide CDR Banking + Action Initiation (2026): applies to 100% of the same businesses (35.0× the overall rate)
- Consumer Credit Hardship Notice (NCC ss 72-73): applies to 100% of the same businesses (17.5× the overall rate)
Where it sits in the corpus
Rules Mate tracks 2 published obligations tagged "banking", 0 of them rated critical. For a professional services Pty Ltd company with 6–19 employees operating in every state, 0 of those apply outright. This obligation is rated medium priority, and is an ongoing duty.
Regulator, legislation and tools
Regulated by Australian Prudential Regulation Authority.
APRA: Prudential regulator of banks (ADIs), insurers (general, life, private health), and superannuation funds. Sets and enforces CPS standards including CPS 234 (information security) and CPS 230 (operational risk).
Banking Act 1959: Authorises APRA to regulate authorised deposit-taking institutions (banks, building societies, credit unions).
Free tools that help with this obligation:
Questions
- Who must comply with Banking Executive Accountability Regime (BEAR) — pre-FAR?
- Applies when the business has industry: Banks & ADIs.
- Does Banking Executive Accountability Regime (BEAR) — pre-FAR apply to sole traders?
- Yes. Looking in banks & adis and every size band, the engine's answer for a sole trader is: yes.
- Does Banking Executive Accountability Regime (BEAR) — pre-FAR apply to businesses with 1–5 employees?
- Yes (1–5 employees, turnover $100K–$1M).
- When is "Banking Executive Accountability Regime (BEAR) — pre-FAR" due?
- Historical compliance reporting.
Related
Sources
Computed by the Rules Mate applicability engine from the published obligation corpus; facts last checked 3 October 2026. Rules Mate is not a law firm and this is general information, not legal advice. Confirm your position with the regulator source or a qualified adviser before acting.