Page 145 - Articles Written by JGJ EF DPS
P. 145
However, Australia, in the 2017 announced, in its federal budget, that
senior banking executives will have their salaries regulated and bonuses
delayed as part of a new accountability scheme.
• Executives face fines of up to $200 million for serious
misconduct
• Bank executives will need to be registered
• 60pc of CEO bonuses and 40%of other senior executive’s
bonuses to be deferred for minimum four years
The Australian Prudential Regulation Authority (APRA) will receive $4.2
million in funding over four years to implement the measures. (6)
