FCA to replace Gabriel with RegData
The FCA has announced that it is replacing its Gabriel system with a new data platform, RegData. The regulator is now preparing to gradually move firms across to the new platform.
Firms’ moving dates will be determined by the nature of their reporting obligations and schedules. 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 then one day before they move to RegData. However, businesses will not be able to access RegData until they and their users’ data has been moved from Gabriel.
What do you need to do?
Prior to your moving date you need to:
- Check you have up-to-date contact details in Gabriel
- Review your users and permissions (e.g. principal users, administrators)
- Ensure accurate information about all other active users.
Until the move to RegData, you should continue to use Gabriel as normal, using your existing login details. If you haven’t registered for RegData yet, you’ll need to complete a one-off registration activity process the next time you log into Gabriel.
What is RegData?
The FCA has stated that the new platform will look similar to Gabriel, but with some improvements. As with Gabriel, you can use the RegData system to:
- Submit regulatory data
- View a tailored schedule of your reporting requirements
- View all your submissions in one place
- Print data items
However, RegData is built with more flexible technology, so the FCA can fix issues faster and continue to improve the user experience. All your past Gabriel submission data will be made available on the new platform.
If you have any questions or concerns, please don’t hesitate to speak to your BDM.