The BEAR – Bank Executive Accountability Regime – And APRA’S Non-Financial Risk Accountabilities

Francesco de Zwart
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Francesco de Zwart: University of Adelaide

Chapter Chapter 20 in The Key Code and Advanced Handbook for the Governance and Supervision of Banks in Australia, 2022, pp 687-712 from Springer

Abstract: Abstract Chapter 20 examines the BEAR – Bank Executive Accountability Regime – and APRA’s non-financial risk accountabilities. This begins by reviewing the meanings of the terms ADI and the obligations of accountable persons. We then examine BEAR accountability obligations of an ADI and an accountable person including governance variables for accountability obligations and ‘reasonable steps’. The key personnel obligations of an ADI are reviewed and the corresponding governance variables provided for. We move then to the deferred remuneration obligations of an ADI and governance variables including those for the meaning of variable remuneration, the minimum amount of variable remuneration and the minimum period of deferral. Section 37F governs the notification obligations of an ADI and governance variables for an ‘Accountability Statement’ and an ‘Accountability Map’. The pecuniary penalty for non-compliance with the BEAR is provided for by section 37FC including the meaning of the terms ‘prudential matters’ and ‘resolution’. There follows registration of accountable persons and disqualification of accountable persons. The chapter concludes with APRA’s improvements for non-financial risk accountabilities not being clear, cascaded and enforced (NFRAccFail).

Keywords: BEAR – Bank Executive Accountability Regime; Accountable persons; Accountability obligations; Reasonable steps; Personnel obligations; Deferred remuneration obligations; Notification obligations; Accountability statement; Accountability map; Pecuniary penalty (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-981-16-1710-2_20

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DOI: 10.1007/978-981-16-1710-2_20

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