Complaints from consumers about Product Reference Data (PRD)

This article was updated on 24 April 2025 to reflect previous changes to the CDR Rules relating to the requirement for data holders to keep records of CDR consumer complaints. 

Question

If we are a bank and consume product reference data (PRD) of other participants and we receive a customer complaint around another participant's product (info about which was obtained via PRD Application Programming Interfaces APIs)), which was viewed on our channel, what is the expectation from a PRD consumer perspective?

Answer

Under rule 9.4(1)(b), data holders must report “CDR complaint data”, which is defined in the CDR Rules and includes a “CDR product data complaint”. However, note that a “CDR product data complaint” only refers to complaints made to a data holder about its required product data or voluntary product data. We do not expect data holders to report on complaints made about product reference data that does not fall within the definition of “CDR product data complaint” for the purposes of rule 9.4.