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.
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Keywords: Europe, UK, Banking, Insurance, Securities, Gabriel, Data Collection Platform, Reporting, RegData, FCA
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