FCA Issues Update on Move to New Data Collection Platform
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.
Related Links
Keywords: Europe, UK, Banking, Securities, RegData, Gabriel, Reporting, Data Collection Platform, FCA
Featured Experts
María Cañamero
Skilled market researcher; growth strategist; successful go-to-market campaign developer
Nicolas Degruson
Works with financial institutions, regulatory experts, business analysts, product managers, and software engineers to drive regulatory solutions across the globe.
Scott Dietz
Scott is a Director in the Regulatory and Accounting Solutions team responsible for providing accounting expertise across solutions, products, and services offered by Moody’s Analytics in the US. He has over 15 years of experience leading auditing, consulting and accounting policy initiatives for financial institutions.
Previous Article
ECB Updates List of Supervised Entities in EU in January 2021Next Article
FSB Publishes Work Program for 2021Related Articles
BIS and Central Banks Experiment with GenAI to Assess Climate Risks
A recent report from the Bank for International Settlements (BIS) Innovation Hub details Project Gaia, a collaboration between the BIS Innovation Hub Eurosystem Center and certain central banks in Europe
Nearly 25% G-SIBs Commit to Adopting TNFD Nature-Related Disclosures
Nature-related risks are increasing in severity and frequency, affecting businesses, capital providers, financial systems, and economies.
Singapore to Mandate Climate Disclosures from FY2025
Singapore recently took a significant step toward turning climate ambition into action, with the introduction of mandatory climate-related disclosures for listed and large non-listed companies
SEC Finalizes Climate-Related Disclosures Rule
The U.S. Securities and Exchange Commission (SEC) has finalized the long-awaited rule that mandates climate-related disclosures for domestic and foreign publicly listed companies in the U.S.
EBA Proposes Standards Related to Standardized Credit Risk Approach
The European Banking Authority (EBA) has been taking significant steps toward implementing the Basel III framework and strengthening the regulatory framework for credit institutions in the EU
US Regulators Release Stress Test Scenarios for Banks
The U.S. regulators recently released baseline and severely adverse scenarios, along with other details, for stress testing the banks in 2024. The relevant U.S. banking regulators are the Federal Reserve Bank (FED), the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC).
Asian Governments Aim for Interoperability in AI Governance Frameworks
The regulatory landscape for artificial intelligence (AI), including the generative kind, is evolving rapidly, with governments and regulators aiming to address the challenges and opportunities presented by this transformative technology.
EBA Proposes Operational Risk Standards Under Final Basel III Package
The European Union (EU) has been working on the final elements of Basel III standards, with endorsement of the Banking Package and the publication of the European Banking Authority (EBA) roadmap on Basel III implementation in December 2023.
EFRAG Proposes XBRL Taxonomy and Standard for Listed SMEs Under ESRS
The European Financial Reporting Advisory Group (EFRAG), which plays a crucial role in shaping corporate reporting standards in European Union (EU), is seeking comments, until May 21, 2024, on the Exposure Draft ESRS for listed SMEs.
ECB to Expand Climate Change Work in 2024-2025
Banking regulators worldwide are increasingly focusing on addressing, monitoring, and supervising the institutions' exposure to climate and environmental risks.
