Banking & finance

ACCC makes Accredited Intermediary Rules

The ACCC has made amendments to the Consumer Data Right Rules. These amendments permit the use of accredited intermediaries to collect data, through an expansion of the rules relating to outsourced service providers. The amendments expand the Consumer Data Right system by allowing for accredited businesses to rely on other accredited businesses to collect Consumer Data Right data on their behalf, so they can provide goods and services to consumers.

Memorandum of Understanding with the Office of the Australian Information Commissioner

On 30 July 2020 the Australian Competition and Consumer Commission (ACCC) entered into a Memorandum of Understanding (MoU) with the Office of the Australian Information Commissioner (OAIC) relating to the performance of their respective roles in regulating the Consumer Data Right system. The purpose of the MoU is to:

CDR Phase 2 test strategy November 2020

The ACCC has released an updated version the Consumer Data Right Phase 2 test strategy for November 2020 to address updates to the Consumer Data Standards and Register Design and incorporate consultation feedback from Participants. This strategy, which is designed for the banking sector, provides an overview of the ACCC’s testing approach to help existing accredited data recipients and data holders prepare for the November 2020 phase release. This includes the test stages, test scenarios and timing of industry testing.