Enforcing the new Banking Executive Accountability Regime

The Banking Executive Accountability Regime (BEAR) legislation passed the Australian Senate on 7 February 2018, and will come into effect on 1 July 2018. The legislation amends the Banking Act 1959 to impose accountability, remuneration, key personnel and notification obligations on authorised deposit-taking institutions. It is intended to make senior bankers more accountable for management decisions, and includes criminal liability amongst its sanctions.

I was delighted to join today's Centre for Law, Markets & Regulation seminar on the new regime, including APRA Chairman Mr Wayne Byers, former Barclays CEO of Mortgages, Mr Steve Weston, and Cris Parker of the Banking & Finance Oath. 

You can download my slide deck presentation here and a transcript of my oral remarks.

Wayne Byre's speech, "Beyond the BEAR necessities" is available on the APRA website

Integrity, compliance, and the rule of law: a week in Washington DC

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Next week I will be attending meetings of the International Bar Association (IBA) (I am a member of the Regulation Committee), including the launch of the IBA's timely series of bipartisan discussions Preserving a Free Society: Governmental Power and the Rule of Law at the Woodrow Wilson International Center for Scholars in Washington, DC. Click here to watch the live-stream.

Each panel will bring a mix of perspectives on rule-of-law issues, including precisely what this oft-used phrase means, what its implications are, what practical meaning it has for public citizens and for those in government, and its importance to the institutions, traditions, and durability of free societies. All six events will be live-streamed and thereafter posted as both a video and a podcast on the IBA website and on the website of the cooperating organisation.

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The Spring Meetings of the International Monetary Fund (IMF) and the World Bank Group (Bank) each year bring together central bankers, ministers of finance and development, private sector executives, and academics to discuss issues of global concern, including the world economic outlook, poverty eradication, economic development, and aid effectiveness. Also featured are seminars, regional briefings, press conferences, and many other events focused on the global economy, international development, and the world's financial system.

As an Australian Delegate to the G20 Business Dialogue (B20), I am honoured and delighted to be attending as an invited guest of the IMF at this year's Spring Meetings in Washington, DC, between April 16-22, 2018.

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As part of the Spring Meetings, our Integrity and Compliance Taskforce will be meeting on 20 April at the US Chamber of Commerce to continue our work on developing the G20 Anti-Corruption Action Plan 2017-2018. Our Taskforce is particularly focused on enhancing integrity in public procurement of infrastructure projects, adoption of private sector standards for state owned enterprises (SOEs) and strengthening disclosure of ultimate beneficial ownership

Royal Commissions in Australia: strategic considerations for counsel

The papers for my presentation to the members of the South Australian Bar Association are now available for download: "Responding to Crisis; Royal Commissions in Australia", University of New South Wales Master of Laws teaching paper for 'Regulation, Litigation & Enforcement' course (2013) and the PowerPoint presentation Royal Commissions in Australia South Australian Bar Association, Adelaide, 20 March 2018.

Recent Developments in Banking & Financial Services Regulation

There are numerous changes afoot in the regulation of banking and financial services in Australia. This blog surveys: establishment of an Australian Financial Complaints Authority, the new professional standards regime for financial advisors, the first civil penalty case for breach of the FOFA "best interests" duty, the proposed Bank Executive Accountability Regime (BEAR), and the new ASIC industry funding model.

International Bar Association Presentation on Good Advocacy in Mediation

My presentation at the International Bar Association's Annual Conference on "What role has good advocacy in mediations?" on Tuesday 10 October is now available for download (as PowerPoint PDF) and as an audio file.

The panel was hosted by the IBA's Arbitration Committee, Forum for Barristers and Advocates (Lead), Litigation Committee, and Mediation Committee.

Thanks to our panel chair David Barniville SC, Co-Chair of the Forum for Barristers and Advocates, our panel moderator Winnie Tam SC, past Chair of the Hong Kong Bar Association and fellow panelists.

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