07Dec

The Financial Conduct Authority has provided more information about RegData, which will replace Gabriel as its data collection platform.

The regulator is promising RegData will deliver the following improvements:

  • A faster system than Gabriel
  • Easier system navigation
  • It will be easier to access ‘help and support’ information
  • Users will use the same username and password for Connect and RegData, once they have completed a simple registration process
  • A messaging system that will make it clearer when firms need to submit returns, and when returns are overdue
  • More prominent error flags
  • Instant validation of data, at the point it is inputted into the field
  • Guidelines in each field and across the form to clarify the type of data input the FCA is expecting – such as currencies, types of files, entry type (e.g. numbers or text)
  • The facility to zoom in and out of tables
  • An auto save facility that saves inputted data every two minutes

All authorised firms that currently use Gabriel to submit regulatory returns will need to use RegData for this purpose in the future. Firms will be able to view previous Gabriel submissions via RegData.

The FCA is moving firms from Gabriel to RegData in phases, and users won’t be able to access RegData until all of their data has been moved.

Each firm’s Principal User of Gabriel will receive an email three weeks prior to the moving date, with further reminders five days and one day prior to this. Where a compliance consultant is shown as having an association with a firm’s Gabriel account, the consultant will also receive these emails.

If they have not already done so, firms also need to log into Gabriel and complete the RegData registration process ahead of their transfer date. Firms will require the same login credentials as they use to log into Connect – anyone who isn’t currently a Connect user will be able to set up a Connect account through this registration process. When completing the RegData registration process, firms should have to hand their Connect username, password and six-digit passcode.

Ahead of the transfer, firms also need to check the following:

  • All of the contact details in Gabriel are up to date
  • They have nominated the correct principal user and associated users in Gabriel
  • There is accurate information in Gabriel about all users
  • All non-active users still shown in Gabriel, such as those who have left the firm, have been disabled

The FCA recommends firms have the following IT resources to get the best out of RegData:

  • Adobe Acrobat Reader 7.0 or above (this is available for free download)
  • Google Chrome
  • A screen resolution of 1028 x 960 pixels

Until their transfer date, firms need to continue to use Gabriel in the usual way.

The information shown in this article was correct at the time of publication. Articles are not routinely reviewed by Scott Robert and as such are not updated. Please be aware of the facts, circumstances or legal position may change after publication of the article.