Tuesday June 23 2020
News Source: Fund Regulation
Focus: General - Fund Regulation
The Financial Conduct Authority (FCA) announced that they are preparing to gradually move firms across to their new data collection platform, which replaces Gabriel. The new name of the platform is RegData. Since April, firms have been registering for RegData through a one-off activity when accessing Gabriel.
Moving firms to RegData from Gabriel
FCA 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. FCA will email firms’ principal user and associated users 3 weeks before their moving date, with reminders 5 days and 1 day to go. Compliance consultants will receive reminders for every firm their user account is currently associated with in Gabriel
Key actions for firms
In advance of their moving date, FCA seeks 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
Firms should continue to use Gabriel, using their existing Gabriel login details, until their firm has been moved to the new platform. Users that haven’t registered yet will still be able to do so when they next log in to Gabriel.
There will be no change to the way firms currently provide data to FCA.
Click on the link for further information.