Authorities Launch Policy For Consumer Data Rights
The ACCC and the Australian Information Commissioner (OAIC) have released the new Compliance and Enforcement Policy for the Consumer Data Right, which aims to give consumers greater access to and control over their data.
Under the new policy, it is the responsibility of all participants to be aware of their regulatory obligations. “Today’s release of the Compliance and Enforcement Policy helps clarify these obligations as people prepare to participate in the Consumer Data Right from July 2020,” ACCC Commissioner Sarah Court said.
However, it is unclear how businesses will be that breach the policy will be punished.
The policy states that regulatory action will be proportionate to the seriousness of the breach. Possible courses of action include voluntary written commitments from offending businesses, infringement notices, court enforceable undertakings, court proceedings, and suspension of accreditation.
Policymakers have sought to rebuild consumer confidence in the country’s Consumer Data Right system. “With this important reform come significant and serious safeguards,” Court said.
“Economic reforms like the Consumer Data Right which build consumer confidence in the use of their personal information and encourage innovation will be critical to our recovery after the COVID-19 outbreak,” Australian Information Commissioner and Privacy Commissioner Angelene Falk said.
The two bodies plan on regularly reviewing the policy in order to keep up with best practices and the evolving consumer data rights landscape.