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Data sharing from statutory trust accounts Follow

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2 comments

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    Dinesh Choradiya

    Despite of the fact that statutory trust account (STA) product within the scope, many banks don't show trust account in the list to select for CDR connection. 

    Is there anyway, someone can escalate to banks (data holders). Very annoying as the staff members don't understand the ask. Frustrating for the trust account holders as they can't conenct the Statutory trust account for bank feeds. CBA is a classic example. 

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    Catherine ACCC

    Thank you for this comment. While an STA product will generally be considered an in-scope product for CDR, there are other factors a data holder will need to consider in assessing whether information associated with a specific STA product must or may be shared under CDR. A summary of relevant factors is included in the above guidance.

    Entities may also be granted exemptions from CDR obligations in relation to specified products under s56GD of the Competition and Consumer Act. We note that the entity highlighted above has received a potentially related exemption. If you remain concerned that a specific in-scope product is not being made available please contact us via accc-cdr@accc.gov.au.

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