Bailey, 75, a married movie director and cinematographer who worked on films like The Big Chill and American Gigolo, was elected president of the Academy in August 2017.
The news comes just two weeks after #metoo and Time's Up movements dominated Hollywood's awards season and the March 4 Oscars. This year's awards ceremony was marked by jokes, speeches about female empowerment and pledges to end harassment in the industry.
Under Bailey's leadership, the Academy's board of governors last October expelled Weinstein as a member.
It later drew up a code of conduct for its 8000 members and developed an online form for them to submit claims of misconduct on the grounds of sexual behaviour, gender, sexual orientation, race, age, and religion.
According to the guidelines, claimants must supply evidence of alleged behaviour and an accused person has 10 days to respond.
Bailey told the annual luncheon for Oscar nominees in February that the 90-year-old Academy was reinventing itself with programs committed to inclusion and diversity.