The chairman of ASIC (the Australian Securities and Investments Commission), Greg Medcraft, has backed the government's banking inquiry into whether banks should provide each other “open access” to key customer data to boost competition and lower barriers to banking. However, he also noted that the policy was for the government to focus on, and that he was unsure whether the Australian Securities and Investments Commission is the right body to enforce a data-sharing regime.
The chairman of the Australian Securities and Investments Commission (ASIC), Greg Medcraft, has backed the government's banking inquiry into whether banks should provide each other “open access” to key customer data to boost competition and lower barriers to banking. However, he also noted that the policy was for the government to focus on, and that he was unsure whether ASIC is the right body to enforce a data-sharing regime.