Proposed approach to variable remuneration under the Banking Executive Accountability Regime
June 2019
Response letter
On 12 June 2019, APRA published a response letter together with the final wording of the schedule in response to the submissions received.
The final legislative instrument will be published before the Banking Executive Accountability Regime (BEAR) comes into force for medium and small ADIs on 1 July 2019.
Submissions to proposed legislative instrument
We received seven submissions, none of which raised any significant concerns and have not resulted in any material changes to the wording of the schedule.
You can find the non-confidential submissions below:
April 2019
Consultation on proposed legislative instrument
In April 2019, we consulted on the proposal to allow a structure-neutral application of the deferred remuneration obligations under the BEAR. This consultation closed on 30 April 2019.
See information relating to this consultation below:
Other consultations on BEAR
Note on submissions
It is APRA's policy to publish all submissions on the APRA website unless the respondent specifically tells APRA in writing that all or part of the submission is to remain confidential. An automatically generated confidentiality statement in an email does not satisfy this purpose. If you would like only part of your submission to be confidential, you should provide this information marked as 'confidential' in a separate attachment.
Submissions may be the subject of a request for access made under the Freedom of Information Act 1982 (FOIA). APRA will determine such requests, if any, in accordance with the provisions of the FOIA. Information in the submission about any APRA-regulated entity that is not in the public domain and that is identified as confidential will be protected by section 56 of the Australian Prudential Regulation Authority Act 1998 and will therefore be exempt from production under the FOIA.