Australia: Treasury Consults on Draft Legislation for Consumer Data Right and Designation Instrument for Open Banking

On September 24, 2018, the Australian Treasury launched a public consultation on additional matters in relation to the exposure draft, “Treasury Laws Amendment (Consumer Data Right) Bill 2018: Provisions for further consultation”, as well as the exposure draft, “Consumer Data Right (Authorised Deposit-Taking Institutions)”. The initiative follows previous works carried out in relation to these topics, with the aim of gradually implementing open banking in Australia.

Pursuant to a previous public consultation carried out in August 2018, the authority aims to obtain feedback on further issues raised by stakeholders when submitting their comments about the “Treasury Laws Amendment (Consumer Data Right) Bill 2018”.

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