The Consumer Data Right (CDR) gives individuals greater choice and control over their data and it enables them to share their data with trusted third parties. In both Australia and New Zealand, it is being rolled out on a sector-by-sector basis.
The New Zealand Government has recently announced that they will implement a new legislative framework to establish their own Consumer Data
The Government will be rolling out CDR on a sector-by-sector basis and designating the individual markets, industries and sectors to which it will apply. They will also be developing primary legislation to create the overarching framework, the basic obligation that will apply to those within a designated sector, the types of data that will be covered and the functionality that is enabled. More detailed requirements will be set out in secondary legislation after the designation of a sector.
The Government is now undertaking work that will inform decisions they will make later in 2021 including which institutions will have a role in the implementation and developing rules and standards along with which sectors might be designated first. It is expected that a Bill will be introduced in 2022.
Find more information and access the Cabinet paper and regulatory impact analysis on the Ministry of Business, Innovation & Employment's website.
DSPANZ looks forward to participating in consultations and ensuring that the NZ CDR is workable for Digital Service Providers (DSPs) and that it is interoperable with Australia's CDR system.
What's happening with Australia's CDR?
The Treasury is currently consulting on the Consumer Data Right rules
amendments (version 3)
and submissions close on 30 July 2021. DSPANZ will be putting together a submission.
Want to learn more about CDR?
Learn more about both Australia and New Zealand's CDR below.