The FCA has confirmed that the first firms will be moved from Gabriel to RegData over the weekend of 17th and 18th October.
Those firms will then complete their regulatory reporting on RegData. Firms will continue to be moved to RegData from Gabriel in the coming months as the regulator moves users across in stages, based on their reporting requirements.
All 52,000 firms will receive direct emails from Gabriel advising them of their moving date. These three emails will be sent to firms three weeks, five days and one day before they move to RegData. Compliance consultants will receive reminders for every firm their user account is currently associated with in Gabriel.
Firms will not be able to access RegData until they and their users’ data have been moved across from Gabriel. Until then, they should continue to report via Gabriel, using their existing Gabriel login details.
In 2019, the FCA asked firms and other users to provide feedback on their experiences of using Gabriel. It invited firms who completed the survey to meet in person to explore their feedback and inform the firm journey for moving over 120,000 users and the data of 52,000 firms from Gabriel to RegData.
Firm feedback identified areas for improvements which the FCA factored in when building the first iteration of RegData. RegData is faster than Gabriel, easier to use, and is built with more flexible technology.