From hallandwilcox.com.au: Recent proposed amendments to the Consumer Data Right Rules aim to expand data sharing obligations to non-bank lenders in Australia, raising the thresholds for compliance and narrowing the range of compulsory products.

ASIC has enhanced its regulatory powers, allowing it to issue notices requiring entities to produce documents and disclose information related to compliance with financial regulations.

Key timelines for the rollout of the updated CDR Rules are scheduled to begin in July 2026, with staggered obligations for initial and large non-bank lenders.