The Financial Conduct Authority (FCA) has published an update about its preparations to migrate firms to RegData, its new data collection platform. The FCA said it would be moving firms across from Gabriel, its existing regulatory reporting system, in stages, the timing of which would be based on a firm’s reporting requirements.
The first of the firms will be moved across over the weekend of 17 and 18 October 2020. The FCA said that the process will not require any additional activity from the firms in question or others.
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 one day before their move to RegData. Compliance consultants will receive reminders for every firm their user account is currently associated with in Gabriel.
Members can access the FCA’s update by clicking here.
More information about the regulator’s approach and how to prepare for the move can be found here.
A library of resources about RegData can be accessed by clicking here.
The FCA has advised firms which have not yet been moved to continue to report via Gabriel using their existing login details for that system.
Further updates will be issued to firms as the transfer continues.
BIBA members’ compliance and regulation queries should be directed to: [email protected].
