FCA announced that 50% firms have started using the new data collection platform RegData, which is slated to replace the existing platform known Gabriel. FCA started moving firms to RegData in October 2020, with the moving dates being determined by the nature of their reporting obligations and schedules. Firms still using Gabriel should make sure they have registered for RegData, as FCA will continue to move more firms to the new system over the next few months. FCA is requesting feedback from firms that have already moved to RegData by completing a short survey on their experience of the move and the system so far. FCA will review all feedback as it continues to improve the platform.
To ensure a smooth transition to the new system, FCA will continue to move remaining firms in stages. Firms will not be able to access RegData until FCA moves their users across from Gabriel. Until then, firms should continue to submit their regulatory reports through Gabriel. All Gabriel users must register for RegData before their move by logging in to Gabriel with their normal login details and completing a one-time activity when prompted. Principal Users of firms should make sure all other firm users complete this activity as soon as possible. This needs to be completed before the planned moving date of a firm, otherwise the Principal User will need to set others up as new users in RegData once the firm has been moved to the new system. There is no need to register for a Gabriel user who does not complete online submissions and communicates with FCA directly or use Secure File Transfer Protocol (SFTP) instead of accessing Gabriel online. FCA will outline the process for these services before a user moves, so that the user is prepared.
Keywords: Europe, UK, Banking, Securities, RegData, Gabriel, Reporting, Data Collection Platform, FCA
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