Consultation on proposed approach to variable remuneration under the Banking Executive Accountability Regime
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:
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.