You can find our latest and up to date insights on the upcoming New Zealand Consumer Data Right regulation below. Click on the links in the table to access our latest thought leadership in this area.
Access our insights:
-
PublicationConsumer Data Right consultations begin for banking and electricity sectors
03/09/2024Government consultation has begun on the banking regulations under the Customer and Product Data Bill (Bill) and the potential designation of the electricity sector under the CDR regime. The Government expects that the Bill will be passed into law in early 2025, and that the open banking regulations and standards will start to come into force in December 2025.
-
PublicationNZ Consumer Data Right Bill passes first reading
25/07/2024The Consumer and Product Data Bill passed its first reading in Parliament yesterday, receiving unanimous cross-party support. The Bill sets out a Consumer Data Right (CDR) framework whereby customers are provided with a statutory ability to require data holders to share information held about them with trusted third parties, as well as the right to require them to carry out certain actions on their behalf.
-
PublicationFour Years in: Lessons for New Zealand from Australia's CDR Experience
09/07/2024Last week, the Australian Banking Association (ABA) and Accenture jointly released their findings following a strategic review of the performance of the Australian Consumer Data Right (AU CDR) across its first four years in operation (the Report).
-
Publication
Customer and Product Data Bill – the proposed New Zealand consumer data right regime
06/06/2024The Customer and Product Data Bill (Bill) has been introduced to Parliament, seeking to establish a New Zealand Consumer Data Right (CDR).
-
PublicationPotential retail payments regulation on the horizon
04/03/2024This Payments Update provides details on the regulatory and industry-led initiatives being considered and pursued simultaneously to facilitate open banking, and looks at the Commerce Commission's (Commission) continued work in ensuring reasonable merchant surcharging (and the Commission's powers to regulate in this space).
-
Publication
Customer and Product Data Bill – the proposed New Zealand consumer data right regime
03/07/2023The Government has released an exposure draft of the Customer and Product Data Bill (Bill) – New Zealand's regulatory framework for a consumer data right (CDR) for consultation. The Ministry of Business Innovation and Employment (MBIE) is seeking submissions on the Bill and accompanying Discussion Document by 5pm on Monday 24 July 2023. The Government is aiming to introduce legislation to Parliament by the end of 2023.
-
Publication
Consumer Data Right Update – proposed penalties, supervisory authorities, in-scope sectors and approach to accreditation and fees
16/01/2023The Office of the Minister of Commerce and Consumer Affairs has released a Cabinet Paper seeking agreement from Cabinet on certain high-level design elements needed to prepare draft CDR legislation (CDR Bill). An exposure draft of the CDR Bill is expected to be released for consultation early this year.
-
PublicationConsumer Data Right Update – Banking to be the first cab off the rank
11/11/2022Following the Government's announcement last July that a Consumer Data Right (CDR) framework will be established for New Zealand, Commerce and Consumer Affairs Minister David Clark confirmed yesterday that banks will be the first sector designated to implement the CDR.
-
Publication
Statutory review of Australia's Consumer Data Right – a "playbook" for New Zealand
02/11/2022Last year the New Zealand Government confirmed its decision to establish a Consumer Data Right ("CDR") framework for New Zealand, indicating that the New Zealand regime will broadly align with Australia's multi-sector designation model introduced in 2019.
-
PublicationNew Zealand Government to introduce a Consumer Data Right
08/07/2021The Government confirmed its decision to establish a Consumer Data Right (CDR) framework for New Zealand this week, with legislation to be introduced as soon as 2022.
-
Publication
Consumer Data Right rules established for the Australian banking sector
11/02/2020The Australian Competition and Consumer Commission has announced the finalisation of the Competition and Consumer (Consumer Data Right) Rules. The Rules sit alongside the Treasury Laws Amendment (Consumer Data Rules) Act 2019, which came into force in August 2019, and provide further detail as to how the Australian regime will operate.
