About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

FCA Seeks Industry Input on How to Handle Regulatory Data

Subscribe to our newsletter

The UK’s financial watchdog has issued a call to regulated firms to provide feedback on how best to collect and process regulatory data, as part of its plan to replace Gabriel, its main regulatory data collection system.

Collecting over 500,000 submissions annually across 120,000 users and 52,000 firms, Gabriel enables regulated market participants to submit regulatory data, view a schedule of their reporting requirements, and view and manage all their submissions.

The platform is being replaced as part of the FCA’s new Data Strategy, designed to help the regulator deepen its understanding of markets and consumers, and more swiftly identify, appropriately intervene and remediate issues to minimise harm. The new data collection platform will support its wider Digital Regulatory Reporting initiative, which is exploring how technology could make it easier for firms to meet their regulatory reporting requirements and improve the quality of information they provide.

“We want to implement an easy-to-use system so that you can submit data to us in a way that is efficient for you and through a system and approach that can be adapted to our changing needs,” says the FCA.

Early changes to the platform will be technology focused, so initially there will be no change to the way firms currently submit data. More significant improvements will then be made in the future, based on feedback received from users during this consultation period.

The regulator is requesting Gabriel users to complete a survey to assist with the development of a replacement resource. Further updates on its Data Strategy approach are expected later in the year, along with published feedback from the survey.

Subscribe to our newsletter

Related content

WEBINAR

Upcoming Webinar: Practical considerations for regulatory change management

Date: 18 September 2024 Time: 10:00am ET / 3:00pm London / 4:00pm CET Duration: 50 minutes Regulatory change management has become a norm across financial markets but a challenge for financial institutions that must monitor, manage and adapt to ensure compliance with both minor and major adjustments to obligations. This year is particularly troublesome, with...

BLOG

Malaysia Assurance Move Highlights Growing Taste for ESG Data Audit

Malaysia has become the latest country to stress data assurance in its proposal for a broad sustainability reporting framework, highlighting the increasing importance being placed globally on ESG data audits. The government in Kuala Lumpur included assurance support in its touted National Sustainability Reporting Framework for Malaysia (NSRF), consultations on which were launched this week....

EVENT

RegTech Summit London

Now in its 8th year, the RegTech Summit in London will bring together the RegTech ecosystem to explore how the European capital markets financial industry can leverage technology to drive innovation, cut costs and support regulatory change.

GUIDE

Regulatory Data Handbook 2019/2020 – Seventh Edition

Welcome to A-Team Group’s best read handbook, the Regulatory Data Handbook, which is now in its seventh edition and continues to grow in terms of the number of regulations covered, the detail of each regulation and the impact that all the rules and regulations will have on data and data management at your institution. This...