One of the recommendations following the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry was to extend the accountability regime known as the Banking Executive Accountability Regime (BEAR) across the Australian financial services industry. While the Government plans to extend the accountability regime across all APRA and ASIC regulated entities, they are starting the rollout with all APRA regulated entities (authorised deposit-taking institutions (ADIs), registrable superannuation entities (RSEs), life, general and private health insurers and non operating holding companies (NOHCs)). The regime will be known as the Financial Accountability Regime (FAR). Summarily, FAR will require senior...