Trusts & Nominated Representatives in the CDR

Can nominated representatives be nominated for trust account types in the banking sector?

Yes, if the CDR consumer for the trust account is a non-individual or partner in a partnership. The CDR consumer is the person who CDR data relates to because of the supply of a service to the person (for example, the person that is receiving services relating to a trust account that is provided by the data holder). We encourage data holders to seek their own advice to make that determination in relation to the trust account products they offer, particularly noting that data holders may have a range of different structures for providing trust account products to their customers.

Please refer to the Nominated Representatives Fact sheet for additional information.