Follow TopicFollow Contributor Share Feedback
Australia Delays Accountability Regime

Australia Delays Accountability Regime

by Starling Insights

Starling Insights Editorial Board

Feb 21, 2024


The Australian Prudential Regulation Authority (APRA) and Australian Securities and Investments Commission (ASIC) issued a letter earlier this month acknowledging that a slowdown in finalizing the rules governing the Financial Accountability Regime (FAR) may delay banks' implementation.

The FAR, which was passed by Parliament in September 2023, extends the previous Banking Executive Accountability Regime (BEAR) to the entire financial sector. However, the specifics of the regime are to be laid out in "ministerial rules," which must be signed off on by the country's Financial Services Minister, Stephen Jones.

This content is available to paid Members of Starling Insights.

If you are a Member of Starling Insights, you can sign in below to access this item. 


If you are not a member, please consider joining Starling Insights to support our work and get access to our entire platform.  Enjoy hundreds of articles and related content from past editions of the Compendium, special video and print reports, as well as Starling's observations and comments on current issues in culture & conduct risk management.

Join The Discussion

See something that doesn't look quite right?

We strive to provide high quality and accurate content at all times. With that said, we realize that sometimes links break, new information becomes available, or there is something that you feel we may have missed.

If you see something that you think we should be aware of, we would love to hear from you. Feel free to drop us a note below and leave your name and contact info if you'd like to hear back from us.

Thank you for being a key part of the Starling Insights community!