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Podcast: Compliance Clarified – a podcast by Thomson Reuters Regulatory Intelligence
Episode: Series 9, Episode 5: Does Australia's senior management accountability go FAR enough?
Description: Australian financial institutions and their senior executives are preparing for a new Financial Accountability Regime, which will bring in a UK-style framework for senior management accountability. Under the Financial Accountability Regime (FAR), institutions will need to establish an accountability map for their directors and senior executives along with an array of conduct and compliance obligations. The object of the FAR is to impose a tougher accountability framework for the banking, insurance and superannuation industries and their directors and most senior and influential executives. Financial institutions will need to understand the requirements of the legislation and executive...