Reporting firms moved to FCA' s new data collection platform RegData

RegData has replaced Gabriel as FCA’ s data collection platform, with the last group of firms now moved across, according to FCA.

RegData is a central tool to FCA’s Data Strategy based on the power of data and advanced analytics to support financial regulation. The financial authority completed the move of 52,000 firms and 120,000 users from Gabriel to RegData. The transition began in October 2020. Firms and their users were moved to RegData in groups, based on their reporting requirements.

RegData is informed by user feedback and is faster to navigate and easier to use. Building on feedback from firms and other Gabriel users, RegData features a number of enhancements across 3 key areas, FCA mentioned in their announcement. These changes are focused on technology, and according to RegTech insights, they refer to:

• Accessing Gabriel – the need for improvements to the speed of the system and support when accessing the system;

• Viewing Gabriel reporting schedules – the need for changes in the layout of the schedules and in viewing previous data submissions;

• Submitting data – the need for better guidance when making a data submission and advancements to the system’s data validation processes.