The first implementation of the new Consumer Data Right is set to take force under the open banking regime, ZDNet reports. Under the Consumer Data Right, individuals are able to access transaction and product usage of data concerning their banking, energy and telecommunications data and are able to control how the data is used and who can have access to it. A report published last week by King & Wood Mallesons made several recommendations on how the Australian open banking regime should look, including that the four major banks have a system in place to facilitate data sharing by the time the federal government reaches a decision. The report will undergo a period of public comment until 23 March. 
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