User FAQs > Safety and Security > Which governing body regulates the Industry?

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Which governing body regulates the Industry?

​In Australia, Open Banking is regulated by two bodies:

• The Australian Competition and Consumer Commission (ACCC); and
• The Office of the Australian Information Commissioner (OAIC)

Australian Competition and Consumer Commission (ACCC)​
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​The ACCC is responsible for rules that govern Consumer Data Right (CDR) in Australia. 

The Office of the Australian Information Commissioner (OAIC)

​The OAIC provides advice on privacy protections and safeguards in the CDR system.

​The OAIC also handles CDR-related complaints from consumers and assesses CDR participants to ensure they comply with privacy safeguards.

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