AEMO to act as central gateway for consumer energy data
The federal government has officially extended the Consumer Data Right regime to cover the energy sector.
The federal government has officially extended the Consumer Data Right regime to cover the energy sector.
The Australian Competition and Consumer Commission (ACCC) is seeking parties to participate in early testing of the new data-sharing system, the Consumer Data Right (CDR).
If you think 2018 was a transformative year for the Australian financial services sector, this year has been just as eventful.
The government has indicated that later this year it will seek to pass additional legislation to modify Australia’s new data-sharing regime and introduce a ‘right to delete’ for consumers.
The Australian Competition and Consumer Commission (ACCC) is using source code sharing service GitHub to host its consultation on a key component of the Consumer Data Right (CDR) ecosystem.
The government says it will legislate increase the penalties that can be levied under the Privacy Act to 10 per cent of a company’s turnover, $10 million or three times the value of a benefit obtained through the misuse of information, whichever is greater, up from a current cap of $2.1 million for serious or repeated breaches.
Australia is yet to implement its open banking rules, but the regulator of the ‘Consumer Data Right’ has already begun work on expanding the regime to cover the energy sector.
The CSIRO’s Data61 division has released a ‘working draft’ of the standards that will underpin the new Consumer Data Right regime.
The Australian financial services sector is in the midst of the most dramatic period of change since the deregulation of banking in the 1980s.
The government should avoid introducing rules that duplicate existing telecommunications industry mechanisms allowing customers to change service providers and access key data, major Australian telcos have argued.
The Australian Competition and Consumer Commission is proposing that only Australia’s big four banks — ANZ, the Commonwealth Bank of Australia, NAB and Westpac — will initially be subject to the new open banking regime.
Andrew Stevens, the former managing director of IBM Australia, has been appointed interim chair of the Data Standards Body for the Consumer Data Right.