Banking Executive Accountability Regime (BEAR) — pre-FAR
BEAR superseded by FAR for banks 15 March 2024; historical exposure remains.
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
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.