Part 1: Access to Customer Data and Business Data Data regulations Section 7: Interface bodies
Section 7 is about the provision that regulations under section 2 and 4 may (among other things) contain about "interface bodies". Such bodies may be required to be established and maintained in order to provide facilities and services, set standards or make related arrangements for data sharing interfaces. The Open Banking Implementation Entity is an example of an interface body; it has developed API standards to which the largest banking providers are required to adhere under the CMA Order.
	Subsection (1) outlines the tasks that interface bodies may perform. These are establishing interfaces, which are facilities or services for the sharing of data or taking action under section 2(4); setting standards or making arrangements relating to, or to the use of, interfaces (which could include interfaces established, managed or maintained by other persons); and maintaining or managing such interfaces, interface standards or interface arrangements.
	Subsection (2) defines interface bodies with reference to subsection (1).
	Subsection (3) enables regulations to be made requiring a data holder or a third party recipient to set up an interface body, and to make provision about the type of body to be set up. This is to allow the Secretary of State or the Treasury to require a scheme to have an interface body, and to require participants in the scheme to establish it.
	Subsection (4) sets out the provisions that regulations may make in relation to an interface body. These include provisions about the composition and governance of the body, things the body must do in relation to interface standards or arrangements, provisions about the body’s objectives and how it carries out its functions, requirements in relation to persons required to set up the body including the provision of assistance (see subsection (7)), transparency requirements, and the conferral of monitoring powers on the body. The intention of this is to ensure that interface bodies can be appropriately regulated and that regulations can require industry participants to effectively support such bodies.
	Subsection (5) confirms that where an interface body is provided with monitoring powers, these include the power to require the provision of documents. The intention of this is to ensure that an interface body can effectively monitor the use of its interface, standards and arrangements. For example, the Open Banking Implementation Entity monitors the implementation, availability and performance of the APIs that it oversees. As with section 6(6) in relation to decision-makers, these powers are subject to the restrictions on investigatory powers in section 9.
	Subsection (6) provides examples of the facilities referred to in subsection (1).
	Subsection (7) provides that references to "assistance" in subsection (4)(b) and (c) include actual or contingent financial assistance and gives examples of financial assistance.