The Federal Government has decided to put on hold the planned rollout of the Consumer Data Right (CDR) regime to the insurance, superannuation and telecommunications sectors. 

Treasury says the decision is in line with recommendations from the independent Statutory Review of the CDR, which launched in July 2020. The data-sharing system was first applied to the major banks in November 2020 and progressively rolled out to non-major banks in July 2021 and the energy sector last year. 

The Statutory Review in its report released last year said the current pace of CDR rollout into new sectors has not allowed enough time for the system to “mature and capitalise on the lessons learnt”. 

It says focusing on improving CDR functionality and data quality within already designated sectors should be prioritised. 

Treasury says in line with the Statutory Review’s recommendations “the Government has made the decision to pause expansion into superannuation, insurance and telecommunications”. 

“This will allow time to focus on ensuring that the CDR in banking is working as effectively as possible, extending into the non-bank lending sector and continuing with the energy rollout as planned,” it says in a CDR newsletter update.