Discussion document Unlocking value from our customer data
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The Government will establish a consumer data right in New Zealand to give individuals and businesses greater choice and control over their data. This is done through the Customer and Product Data Bill, which is now before Parliament. The Bill will be rolled out to the banking and electricity sectors first. Consultation on how the Bill can apply to these sectors will follow later this year.
We are working to ensure that the retail payment system operates in the interests of New Zealand consumers and businesses.
We recently sought feedback on the exposure draft of the Customer and Product Data Bill (the draft law) and the accompanying discussion document. The draft law will give customers more control over their data, allowing them to safely and securely access, manage, and share this data with others.
The Commerce Commission has published its draft report into personal banking services.
The Government announced a new mandatory Grocery Supply Code of Conduct supporting fairer trading relationships last week.
MBIE consulted on an exposure draft of the Consumer Information Standards (Unit Pricing for Grocery Products) Regulations 2023. These draft regulations intend to help consumers compare grocery prices more easily by requiring the consistent display of unit pricing in New Zealand’s major grocery retailers.
On 31 January 2024, the Government announced plans to reform the Financial Markets (Conduct of Institutions) Amendment Act (CoFI) and the Credit Contracts and Consumer Finance Act (CCCFA).
In February 2020, the Government announced its decision to introduce changes to improve competition in the retail fuel market. These changes have been implemented.
The Government response follows the Commerce Commission’s market study into the retail grocery sector.