Financial Accountability Regime (FAR)

by AFIA

14 February 2020

AFIA welcomes the opportunity to provide a response to Treasury on the Proposals Paper for Implementing Royal Commission Recommendations 3.9, 4.12, 6.6, 6.7, and 6.8, to extend the Banking Executive Accountability Regime (BEAR) to all APRA regulated entities and provide joint administration to ASIC as the conduct regulator. We are committed to ensuring that all Australians have continued access to finance, while enhancements to consumer protections are made following the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry (Royal Commission).

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