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The Australian Government is introducing a Consumer Data Right (CDR) to give consumers more control over their data. The CDR will be rolled out sector-by-sector across the economy, starting with the banking sector. The Government has announced that the energy and telecommunications sectors will follow banking.
Further information on the CDR is available on the Treasury website: https://treasury.gov.au/consumer-data-right
The ACCC will be lead regulator for the CDR regime, and will have roles and functions that include:
drafting rules to implement and govern the CDR in each sector; accrediting entities to receive data; managing an online register of accredited data recipients and data holders; providing education and guidance on the CDR; recommending to government future sectors to be brought within the CDR; and compliance and enforcement activities. Further information on the ACCC’s role in the CDR is available on the ACCC’s website: https://www.accc.gov.au/focus-areas/consumer-data-right-cdr-0