Publication
Regulation Around the World: Open Finance
In this issue of Regulation Around the World we look at how regulators are developing their proposals for Open Finance.
Australia | Publication | August 2024
Following a request from the Minister for Communications, the Hon Michelle Rowland MP, to the online dating industry, NRFA assisted in developing a voluntary code of practice (Code) that was finalised and submitted by participating Industry Members to the Australian Government by the 30th of June 2024. The drafting of the Code was a detailed process which included close consultation with the Office of the eSafety Commissioner, Department of Infrastructure, Transport, Regional Development, Communications and the Arts, and key non-government stakeholders.
The development of the Code was led by an Industry Working Group (IWG) including representatives from Match, Bumble, The Meet Group, eharmony, Spark, Grindr and RSVP. NRFA drafted the Code on instructions from the IWG and engaged in extensive consultation with the Australian Government and other stakeholders throughout the drafting process.
As a voluntary code of practice, the Code sets out a number of key obligations that industry participants have undertaken to comply with. These obligations include annual reporting to regulators, standards of accessibility and safety across platforms. A copy of the Code can be found here.
The Code will commence on 1 October 2024 and there will be an initial transition period to allow for changes to participating Industry Members’ systems, processes and policies to enable them to comply with the Code. The ongoing administration of the Code will be managed by the Code Oversight Body which will be established from representatives of the participating Industry Members. The Code Oversight Body will shortly publish a Code website that will have a copy of the Code as well as other relevant documents and information.
Publication
In this issue of Regulation Around the World we look at how regulators are developing their proposals for Open Finance.
Publication
Canada and the European Union signed a Security and Defence Partnership (SDP), which formalizes a mutual intent to foster closer ties by establishing a framework for dialogue and cooperation across the full security and defence spectrum.
Publication
The Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA) is now half way through its first phase of compliance, while the supporting regulatory frameworks constituting the building blocks for the CORSIA and Article 6 markets are incrementally being cemented in place and the market is developing fair mechanisms for managing key gap risks.
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