Regulation

FCA asks firms to prepare for move to new data collection platform

The FCA will email firms’ principal user and associated users three weeks before their moving date.

Rozi Jones
|
23rd June 2020
FCA new

The FCA is asking firms to prepare for a phased move to its new data collection platform, RegData, which will repace Gabriel.

Since April, firms have been registering for RegData through a one-off activity when accessing Gabriel.

The FCA says it will be moving firms and their users to RegData in groups to minimise the impact this has on them. Firms’ moving dates will be determined by the nature of their reporting obligations and reporting schedules.

Firms will not be able to access RegData until they and their users’ data have been moved from Gabriel.

The FCA will email firms’ principal user and associated users three weeks before their moving date, with reminders five days and one day to go. Compliance consultants will receive reminders for every firm their user account is currently associated with in Gabriel.

In advance of their moving date, the FCA is asking firms to check they have:

- up-to-date contact details in Gabriel,
- nominated the correct principal user and assigned administrator rights correctly in Gabriel,
- accurate information in Gabriel about all other active users – with any non-active users disabled.

RegData aims to be faster and more accessible, offering an improved reporting schedule layout and submission history.

The system will be able to send notifications for multiple users and saves a user’s progress in data items automatically every two minutes, including useful help text throughout the platform.

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