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

    APRA Consults to Standardize Submission Date for Quarterly Reporting

    APRA proposed to standardize quarterly reporting due dates for authorized deposit-taking institutions. The proposed standardized due date is 35 calendar days after the last day of the reference quarter, which will create a 14-calendar-day extension for credit unions and building societies.

    November 08, 2019 WebPage Regulatory News
    News

    EBA Publishes Methodology and Draft Templates for Stress Tests in 2020

    EBA published a package for the 2020 EU-wide stress test exercise for banks.

    November 07, 2019 WebPage Regulatory News
    News

    EC Publishes Results of Fitness Check of Reporting Requirements in EU

    EC published results of the fitness check of supervisory reporting requirements in financial services legislation in EU.

    November 07, 2019 WebPage Regulatory News
    News

    BCBS Assesses NSFR and LE Rules in Argentina and China as Compliant

    BCBS published reports that assess the implementation of net stable funding ratio (NSFR) and large exposures, or LE, framework in Argentina and China.

    November 07, 2019 WebPage Regulatory News
    News

    FSB Publishes Summary of Plenary Meeting in Paris

    At the meeting, the Plenary reviewed vulnerabilities in the global financial system, fintech developments (including developments in the crypto-asset markets), ongoing work of FSB, and the work program for 2020.

    November 07, 2019 WebPage Regulatory News
    News

    HKMA Highlights Technology Initiatives at the Hong Kong FinTech Week

    HKMA co-organized, with InvestHK, the Hong Kong FinTech Week 2019, which was a five-day flagship fintech event that attracted thousands of attendees worldwide.

    November 06, 2019 WebPage Regulatory News
    News

    ECB Report on Fallback Provisions in Contracts Referencing EURIBOR

    ECB published a report, by private sector working group on euro risk-free rates, presenting recommendations for fallback provisions in contracts for cash products and derivative transactions referencing EURIBOR.

    November 06, 2019 WebPage Regulatory News
    News

    EC Regulation on Homogeneity of Underlying Exposures in Securitization

    EC published the Delegated Regulation 2019/1851 regarding the regulatory technical standards on the homogeneity of the underlying exposures in securitization.

    November 06, 2019 WebPage Regulatory News
    News

    FSI Examines Regulatory Approaches on Climate Risk Assessment

    The Financial Stability Institute (FSI) of BIS published a paper that examines the regulatory approaches being used for climate risk assessment in the insurance sector, in particular through enterprise risk management (ERM) frameworks.

    November 06, 2019 WebPage Regulatory News
    News

    SRB Launches Q&A Process for Resolution Reporting

    SRB has setup a dedicated solution for raising questions on the resolution reporting.

    November 06, 2019 WebPage Regulatory News
    RESULTS 1 - 10 OF 4112