FCA published results of the survey requesting feedback for the new data collection platform that will replace GABRIEL. Through this online survey, over 1,000 users and other GABRIEL stakeholders shared their thoughts on the current system and their feedback will help shape how FCA develops the new platform, with some key changes reflecting the priorities highlighted by the stakeholders. The three key areas of improvement highlighted in the feedback cover aspects such as accessing GABRIEL, viewing reporting schedules, and submitting data.
The new platform will allow FCA to fix issues quicker and sooner. FCA will also improve the support guidance to make it easier to know where to go for help. The early changes to the platform will be technology focused and initially there will be no change to the way firms currently provide data to FCA. The following are the key highlights of the feedback:
- Accessing Gabriel—The feedback focused on the need for improvements to the speed of the system and support when accessing the system.
- Viewing reporting schedules—The feedback was largely related to the need for changes in the layout of the schedules and in viewing previous data submissions.
- Submitting data—The feedback identified the need for better guidance when making data submission, along with advancements to the data validation processes of the system.
The online survey is still open to feedback and FCA will continue to provide stakeholders with regular updates. GABRIEL, which is the main regulatory data collection system of FCA, facilitates the collection of over 500,000 submissions annually, across 120,000 users and 52,000 firms.
Keywords: Europe, UK, Banking, Securities, Insurance, GABRIEL, Data Collection, Reporting, FCA
The three European Supervisory Authorities (ESAs) issued a letter to inform about delay in the Sustainable Finance Disclosure Regulation (SFDR) mandate, along with a Call for Evidence on greenwashing practices.
The International Sustainability Standards Board (ISSB) of the IFRS Foundations made several announcements at COP27 and with respect to its work on the sustainability standards.
The International Organization for Securities Commissions (IOSCO), at COP27, outlined the regulatory priorities for sustainability disclosures, mitigation of greenwashing, and promotion of integrity in carbon markets.
The European Banking Authority (EBA) issued a statement in the context of COP27, clarified the operationalization of intermediate EU parent undertakings (IPUs) of third-country groups
The Office of the Superintendent of Financial Institutions (OSFI) published an annual report on its activities, a report on forward-looking work.
The Australian Prudential Regulation Authority (APRA) finalized amendments to the capital framework, announced a review of the prudential framework for groups.
The Bank for International Settlements (BIS) Innovation Hubs and several central banks are working together on various central bank digital currency (CBDC) pilots.
The European Central Bank (ECB) published the results of its thematic review, which shows that banks are still far from adequately managing climate and environmental risks.
Among its recent publications, the European Banking Authority (EBA) published the final standards and guidelines on interest rate risk arising from non-trading book activities (IRRBB)
The European Commission (EC) recently adopted regulations with respect to the calculation of own funds requirements for market risk, the prudential treatment of global systemically important institutions (G-SIIs)