Featured Product

    APRA Issues Proposal on Deferred Remuneration Obligations Under BEAR

    April 01, 2019

    APRA launched a proposal to allow a structure-neutral application of the deferred remuneration obligations under the Banking Executive Accountability Regime (BEAR). The consultation is for a draft schedule of the kinds of remuneration that are not variable remuneration, to be made by legislative instrument. Submissions are requested by April 30, 2019. APRA will release the final legislative instrument before July 01, 2019, which is the commencement date of the BEAR for medium and small authorized deposit-taking institutions.

    APRA proposes that, irrespective of the organizational structure or whether the authorized deposit-taking institution is a locally incorporated authorized deposit-taking institution or foreign authorized deposit-taking institution, where an individual has both an accountable person role with an authorized deposit-taking institution (or subsidiary of an authorized deposit-taking institution) and another role, only the portion of an individual’s variable remuneration that relates to the accountable person role would be subject to the deferral requirements under Division 4 of Part IIAA of the Banking Act. APRA expects that this proposed legislative instrument will not result in any large authorized deposit-taking institution (that is, a major bank) initiating changes to the amount of deferred remuneration, as the legislative instrument does not apply to their particular corporate structure. The proposed legislative instrument is intended to ensure that application of the deferred remuneration obligations across authorized deposit-taking institutions is consistent with the intent of BEAR. 

     

    Related Links

    Comment Due Date: April 30, 2019

    Keywords: Asia Pacific, Australia, Banking, BEAR, Governance, Deferred Remuneration Obligations, Operational Risk, APRA

    Related Articles
    News

    ESAs Publish Reporting Templates for Financial Conglomerates

    ESAs published the final draft implementing technical standards on reporting of intra-group transactions and risk concentration of financial conglomerates subject to the supplementary supervision in EU.

    January 18, 2021 WebPage Regulatory News
    News

    EBA Publishes Report on Asset Encumbrance of Banks in EU

    EBA published the annual report on asset encumbrance of banks in EU.

    January 18, 2021 WebPage Regulatory News
    News

    US Agencies Publish Updates for Call Reports, FFIEC 101, and FR Y-9C

    FED updated the reporting form and instructions for the FR Y-9C report on consolidated financial statements for holding companies.

    January 15, 2021 WebPage Regulatory News
    News

    EBA Proposes Guidelines for Establishing Intermediate Parent Entities

    EBA issued a consultation paper on the guidelines on monitoring of the threshold and other procedural aspects of the establishment of intermediate EU parent undertakings, or IPUs, as laid down in the Capital Requirements Directive.

    January 15, 2021 WebPage Regulatory News
    News

    EC Adopts Financial Reporting Changes Arising from Benchmark Reforms

    EC published Regulation 2021/25 that addresses amendments related to the financial reporting consequences of replacement of the existing interest rate benchmarks with alternative reference rates.

    January 14, 2021 WebPage Regulatory News
    News

    BIS Bulletin Examines Key Elements of Policy Response to Cyber Risk

    BIS published a bulletin, or a note, that examines the cyber threat landscape in the context of the pandemic and discusses policies to reduce risks to financial stability.

    January 14, 2021 WebPage Regulatory News
    News

    HMT Updates List of Post-Brexit Equivalence Decisions in UK

    HM Treasury, also known as HMT, has updated the table containing the list of the equivalence decisions that came into effect in UK at the end of the transition period of its withdrawal from EU.

    January 14, 2021 WebPage Regulatory News
    News

    EBA Issues Erratum for Technical Package on Reporting Framework 3.0

    EBA published an erratum for technical package on phase 1 of the reporting framework 3.0.

    January 14, 2021 WebPage Regulatory News
    News

    APRA Publishes FAQ on Measurement of Credit Risk Weighted Assets

    APRA updated a frequently asked question (FAQ), for authorized deposit-taking institutions, on the measurement of credit risk weighted assets.

    January 14, 2021 WebPage Regulatory News
    News

    ECB Letter Sets Out Strategies to Address Issue of Nonperforming Loans

    ECB published a letter from Andrea Enria, the Chair of the Supervisory Board of ECB, answering questions raised by the President of the Bundestag (the German federal parliament) on how ECB assesses the financial stability of the euro area in the context of the significant level of nonperforming loans.

    January 14, 2021 WebPage Regulatory News
    RESULTS 1 - 10 OF 6450