NEW FCA PLATFORM FOR DATA STORAGE

The UK Financial Conduct Authority (FCA) has announced details of its new platform for collecting and storing regulatory data from firms.The UK Financial Conduct Authority (FCA) has announced details of its new platform for collecting and storing regulatory data from firms.

Gabriel, the FCA's main regulatory data collection system, is being replaced with a new online system, as originally announced in July 2019. Since then, the FCA has collected feedback from its online survey regarding proposed changes.

The published feedback in October 2019 highlighted three key areas for improvement:

• Accessing Gabriel -- the feedback focused on the need for improvements to the speed of the system and support when accessing the system
• Viewing the Gabriel reporting schedule -- largely related to the need for changes in the layout of the schedules and in viewing previous data submissions
• Submitting data -- included the need for better guidance when making a data submission and advancements in the system's data validation processes.

Since then, the FCA has held roundtable events in London, Manchester and Edinburgh, meeting with firms and survey respondents who expressed interest in engaging with the regulator on the new system.

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