Australia: Consultation Paper On The Banking Executive Accountability Regime

Last Updated: 8 August 2017
Article by Brendan Milne and Mark Sant

Further to our alert in May 2017 (which can be found here), the Government has now released a Consultation Paper on the Banking Executive Accountability Regime (the Regime). We have summarised the key details of the Regime below:

Topic Detail
1 Institutions to be covered by the Regime
  • ADIs and all entities within a group with an ADI parent.
  • Subsidiaries of ADIs, including those that provide non-banking services and those that are foreign subsidiaries.
2 Increased responsibility and accountability of directors and senior executives