The Australian Securities & Investments Commission issued Report 564 in January this year.
BEAR Regime Continues to Raise Concerns in Financial Services Sector
The Banking Executive Accountability Regime (BEAR) has made banks and businesses cautious and concerned. Banks have echoed a warning that BEAR threatens the clarity of roles between APRA and ASIC, and also creates potential upheaval with insurance and superannuation funds, as BEAR could be broadly applied to such organisations.