Mooted changes to banking executives accountability

The Turnbull Government has released draft legislation for the Banking Executive Accountability Regime (BEAR). Announced in the 2017-18 Budget, BEAR will make banks and their most senior executives and directors accountable for meeting heightened standards of behaviour in line with community expectations and ensure that the banking system is strong, fair and competitive. Submissions in response to the draft are due by 29 September 2017.

Treasury Media Release – 22 September 2017

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