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GABRIEL to be Replaced by a New Regulatory Reporting Platform
Gabriel to be replaced by a new reporting platform
22nd July 2019
The FCA has announced that they have started work on a new improvedregulatory reporting system that will look to replace their existing regulatory reporting platform, Gabriel.
Whilst no timetable has been announced yet, the new regulatory reporting platform would be developed to improve the way the FCA collects data from firms.
To help shape the new platform, the regulator is now asking for input from anyone that utilises Gabriel via a survey, the focus being - how could regulatory reporting be improved?
Whilst work is only an the initial stage, the FCA has said it is keen to implement an ‘easy-to-use’ system whereby Firms can submit data to the FCA in a way that is efficient and via a means that can be adapted easily to incorporate future regulatory requirements.
The regulator has also informed that this new reporting system would look to support their Digital Regulatory Reporting work that they continue to explore to see how technology might make it easier for firms to meet their regulatory reporting requirements as well as improve the quality of the information that is collected.
The next steps for those wanting to input into the development of the new platform will be to complete the FCA’s online survey, expected to take around five minutes to complete.
The FCA will look to share responses from the survey later in the year and announce further news on the development and transition to the new platform.
Gabriel users can take part in the survey here.
In the meantime, Firms should continue to utilise Gabriel as normal. And, if you should need any support or assistance with Gabriel then drop us a line and we’d be happy to assist. Visit our Gabriel Support pages to find out more in addition our GABRIEL FAQs help to answer some Frequently Asked Questions.
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