The Consumer Data Right went live today, allowing consumers to choose to share banking data.

The ACCC and the Office of the Australian Information Commissioner (OAIC) have jointly released the Compliance and Enforcement Policy for the Consumer Data Right.

The ACCC has made the Competition and Consumer (Consumer Data Right) Rules which come into operation tomorrow. The rules require banks to ‘share product reference data with accredited data recipients’ and give ‘legislative force to consumer data sharing obligations in banking’ which become mandatory on 1 July 2020.

The ACCC has released a consultation paper on facilitating participation of intermediaries in the Consumer Data Right (CDR) regime. It is seeking views on ‘how the CDR rules should permit the use of third party service providers that collect or facilitate the collection of CDR data from data holders on behalf of accredited persons (‘intermediaries’)’.

The 10th Annual Baxt lecturer was held on Tuesday 15 October 2019

The keynote speaker was Prof Christopher Yoo, speaking on ‘Competition Law and “Big Data”: what Does it Mean for Data to Be “Big”?’ This was followed by a panel discussion on the consumer data right.