The Financial Accountability Regime

by AFIA

24 August 2021

AFIA appreciates the opportunity to make a submission to the Treasury on the draft legislation, explanatory materials, and associated documents for the Financial Accountability Regime. We support the policy intent of the FAR and the key objective to ‘improve the operating culture of entities in the banking, insurance and superannuation sectors and to increase transparency and accountability across these sectors—both in relation to prudential matters and conduct related matters. This aligns closely with our strategic goal, ultimately aimed at, driving a culture of integrity, transparency and fairness across the industry.