The Minister of Commerce and Consumer affairs has released a discussion document on options for establishing a consumer data right in New Zealand. Submissions are being sought to help determine whether New Zealand needs a consumer data right, and how any such consumer data right should be designed.
The discussion document notes that a consumer data right would give individuals and businesses greater choice and control over the data held about them by businesses such as banks or utility providers, and allow individuals and businesses to securely share data held about them with a trusted third party. It also notes that a consumer data right could:
- give individuals and businesses access to a wider range of products and services, reduce search and switch costs, facilitate competition, encourage innovation, increase productivity and help build the digital economy; and
- strengthen existing privacy protections by giving consumers greater choice and control of their data.
Four options for the high-level design of a consumer data right have been identified:
- Option 1: Continue to rely on existing protections and industry-led solutions.
- Option 2: A legislative framework that can “turn on” a consumer data right in sectors.
- Option 3: Establish an economy-wide consumer data right.
- Option 4: Sector-specific approach.
Submissions close at 10am (NZT) on Monday 19 October 2020.
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