BEAR to FAR: What Supers & Insurers Can Learn from the Banking Sector

As FAR extends the principles of BEAR to superannuation and insurance sectors, it is crucial for industry leaders to understand the lessons learned from the banking sector’s experience with BEAR. This webinar will explore key takeaways from BEAR’s implementation and provide actionable insights on how superannuation funds can proactively adapt to FAR’s accountability requirements, including beyond the high-level reasonable steps implementations.

Topics will include:

• Understanding the transition: BEAR to FAR – key differences and similarities
• Timeline for FAR implementation – what super fund and insurers need to know about upcoming compliance deadlines
• Lessons learned from BEAR – what banks got right (and wrong) 
• Cultural shifts in banking – how BEAR influenced behaviour and decision-making
• What FAR means for Supers and Insurers – the impact on risk and compliance teams
• Regulatory expectations from APRA and ASIC – insights into how FAR will be enforced and the role of technology
• Actionable strategies in preparation for FAR – including immediate steps to take