FCA Announces Enhancements to New Data Collection Platform RegData
FCA announced initial enhancements to the new data collection platform RegData, which is slated to replace the existing platform known as GABRIEL. The enhancements are for functionality that relates to accessing the system, viewing reporting schedules, and submitting data. These enhancements are based on feedback received from the users of GABRIEL platform.
FCA has produced a series of individual explainer videos and user guides for each aspect of the functionality in RegData. The following are the key noteworthy enhancements in RegData platform, as outlined by FCA:
- With respect to enhancements in accessing the system, FCA informs that RegData will be faster and will make it easier to navigate and complete submissions due to user journey improvements. Going forward, finding information within RegData and on the FCA website is expected to easier. The new system also features improved messaging and signposting. Users will use the same username and password for Connect and RegData. Firms must enable this by logging into GABRIEL and completing a short one-time registration ahead of their move, unless already completed.
- With respect to viewing of reporting schedules, a firm will have improved navigation and functionality, with messages that make it clearer when data items are due and overdue. The schedule automatically brings overdue items to the top of the page and the system allows users to expand or collapse details for each item. Furthermore, users can sort draft and past submissions by date and status.
- Data submission issues will be easier to identify, particularly on a user’s schedule and in a form. With the improved validation features, the new platform validates data as it is entered into the field. FCA also included guidelines in each field and across the form to clarify the data expectations, including those regarding currencies, types of files, entry type (numbers or text), and status of form (for example, draft). In the new platform, layout for forms is clearer, with improved navigation using features such as the ability to zoom in and out on tables. Data being input will also be automatically saved every two minutes.
FCA also explained that it is moving firms and their users to RegData in groups to minimize impact on firms. The moving dates of firms are determined by their reporting requirements. All users must register for RegData ahead of their move by logging in to GABRIEL and completing the one-time registration, when prompted. Until the users are moved, firms should continue reporting via GABRIEL using the existing GABRIEL login details.
Related Links
Keywords: Europe, UK, Banking, Insurance, Securities, Gabriel, Data Collection Platform, Reporting, RegData, 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
FSB Report Finds Steady Increase in Climate-Related DisclosuresRelated 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.
