ACCC makes Consumer Data Right Rules

The ACCC has made the Competition and Consumer (Consumer Data Right) Rules which come into operation tomorrow (6 Feb 2020). The rules (which run to 127 pages accompanied by a 69 page explanatory statement) 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.

See media release.