LOG IN

'Stage 2' Changes to the PRDE

June 2026 Update

The 2024 Independent Review of the Principles Reciprocity and Data Exchange (Khoury report) made various recommendations for improving the operation of the Principles of Reciprocity and Data Exchange (PRDE), which require changes to be made to the industry code.  

The first round of changes was finalised in November 2025. The second round of changes have now been approved, which will come into effect upon reauthorisation of the PRDE (expected December 2026)

In summary, the stage 2 changes are: 

  • Paragraph 89 (updated): Expand the compliance outcomes that are available for non-compliance. 
  • Paragraph 108AB (new): Allow the RDEA to affect the fee payable by a signatory in relation to certain ‘designated conduct’. 
  • Paragraph 95B (updated): Introduce an explicit mandate for the RDEA to monitor and improve ‘data quality’ (as per recommendation 6 of the Khoury report).    

The RDEA will publish a clean renumbered version of the PRDE (i.e. V25) prior to it coming into effect.

In addition to those PRDE changes, the terms of reference for the Industry Determination Group and Eminent Person, which are the two escalated stages under the PRDE’s dispute processes have been updated.  

See: 

 

If you have comments or feedback, please contact us.

 

27 May 2026 

The 2024 Independent Review of the Principles Reciprocity and Data Exchange (Khoury report) made various recommendations for improving the operation of the Principles of Reciprocity and Data Exchange (PRDE), which require changes to be made to the industry code.  

The first round of changes was finalised in November 2025. We are now consulting on some further, ‘stage 2’ changes. 

In summary, the stage 2 changes: 

  • Paragraph 89 (updated): Expand the compliance outcomes that are available for non-compliance 
  • Paragraph 108AB (new): Allow the RDEA to affect the fee payable by a signatory in relation to certain ‘designated conduct’. 
  • Paragraph 95B (updated): Introduce an explicit mandate for the RDEA to monitor and improve ‘data quality’ (as per recommendation 6 of the Khoury report). 

In addition to those PRDE changes, we are also consulting on the terms of reference for the Industry Determination Group and Eminent Person, which are the two escalated stages under the PRDE’s dispute processes.  

See: 

Please provide any feedback by 6 June 2026. If you have comments but are not able to provide feedback by then, please contact us as soon as possible.