Changes will simplify Australia's data-portability regime, minister says
( November 12, 2024, 01:21 GMT | Official Statement) -- MLex Summary: Changes to Australia’s data-portability mechanism are designed to simplify the process and allow consent to be bundled, in a move that the government says will “improve the consumer experience and increase update” of the ailing regime. In a statement, Australian Financial Services Minister Stephen Jones said the changes to the Consumer Data Right would also remove barriers for banks by simplifying requirements that apply when an accredited bank seeks data from a consumer — a change that addresses the “complex and confusing” mechanism that has been in place until now.The full statement from Financial Services Minister Stephen Jones follows: ...
Prepare for tomorrow’s regulatory change, today
MLex identifies risk to business wherever it emerges, with specialist reporters across the globe providing exclusive news and deep-dive analysis on the proposals, probes, enforcement actions and rulings that matter to your organization and clients, now and in the longer term.
Know what others in the room don’t, with features including:
- Daily newsletters for Antitrust, M&A, Trade, Data Privacy & Security, Technology, AI and more
- Custom alerts on specific filters including geographies, industries, topics and companies to suit your practice needs
- Predictive analysis from expert journalists across North America, the UK and Europe, Latin America and Asia-Pacific
- Curated case files bringing together news, analysis and source documents in a single timeline
Experience MLex today with a 14-day free trial.