ABSIA submitted to New Zealand's Ministry of Business, Innovation & Employment's consultation on Options for Establishing a Consumer Data Right in New Zealand on 5 October 2020.
In this submission, we broadly agreed with the points laid out within the discussion paper and highlighted extra learnings from Australia's CDR experience.
In summary, this submission made the following recommendations:
- There are a number of learnings from Australia's implementation of CDR that New Zealand can learn from;
- A holistic consumer centric approach rather than a sector by sector approach to managing CDR consents should be taken;
- Both read and write access should be included from the beginning;
- Option two is the best approach for New Zealand's CDR;
- New Zealand should align their CDR approach with Australia's as it will benefit businesses wishing to participate in CDR in both countries;
- Existing bodies should be involved where applicable rather than establishing new bodies for sectors; and
- The regulatory approach should consist of multiple regulators with an overseeing body.
A full copy of this submission can be accessed here.
To contribute to any upcoming ABSIA submissions, find more information here.