Banking Executive Accountability Regime

This consultation process has now been completed. Submissions available

Key Documents

In the 2017-18 Budget the Government brought forward a comprehensive package of reforms to strengthen accountability and competition in the banking system. As part of this package, the Government announced that it will legislate to introduce a new Banking Executive Accountability Regime (BEAR).

The intention of the BEAR is to enhance the responsibility and accountability of ADIs and their directors and senior executives. The BEAR will provide greater clarity regarding their responsibilities and impose on them heightened expectations of behaviour in line with community expectations.

Where these expectations are not met, APRA will be empowered to more easily remove or disqualify individuals, ensure ADIs’ remuneration policies result in financial consequences for individuals, and impose substantial fines on ADIs. ADIs will be required to register individuals with APRA before appointing them as senior executives and directors.

The Government is now releasing this consultation paper, which outlines the key features of the BEAR and the proposed approach for implementation.

All interested parties are encouraged to make a submission by 3 August 2017.


49 submissions were received for this consultation, including 11 confidential submissions.

ABA - pdf 1.2 MB
Allan Gray Australia - pdf 921.95 KB
Allens - pdf 1.26 MB
ANZ - pdf 235.3 KB
AustralianSuper - pdf 1.59 MB
Auswide Bank - pdf 422.38 KB
CHOICE - pdf 385.92 KB
Citi - pdf 1.8 MB
Clifford Chance - pdf 677.28 KB
COBA - pdf 240.44 KB
Colvin, John - docx 74.39 KB
Cuscal Limited - pdf 19.36 KB
Davis, Kevin - pdf 609.47 KB
Financial Sector Union - pdf 271.87 KB
FINSIA - pdf 88.19 KB
FSC - pdf 222.6 KB
Guerdon Associates - pdf 541.53 KB
Henry Davis York - pdf 752.4 KB
Herbert Smith Freehills - pdf 550.35 KB
Industry Super Australia - pdf 594.41 KB
KPMG - pdf 169.01 KB
Law Council of Australia - pdf 570.82 KB
Lewis, Rob - docx 28.31 KB
MLC Life Insurance - pdf 2.18 MB
Morris, Damien - pdf 501.2 KB
NAB - pdf 3.4 MB
Ownership Matters - pdf 225.34 KB
Paypal - pdf 577.14 KB
Suncorp - pdf 5.78 MB
Westpac - pdf 278.36 KB