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FCA announces benefits of new data collection platform RegData

November 26, 2020

What is happening?

RegData will at the end of 2020 replace Gabriel as the FCA’s data collection platform.

What do you need to do?

Three key areas previously highlighted for improvement in Gabriel have been identified as suitable for the FCA to make initial enhancements in RegData, as follows;

Accessing the system – the speed of the system and support when accessing Gabriel

    • Increased speed and faster navigation – It will be faster and easier to navigate and complete submissions in RegData due to user journey improvements.
    • Support across the platform – It will be easier to find information within RegData and on the FCA website. The FCA has improved messaging and signposting so that success or error messages are clearer.
    • New online resources – The FCA has produced a series of individual explainer videos and user guides for each aspect of the functionality in RegData.
    • Single sign-on between Connect and RegData – Users will use the same username and password for Connect and RegData. Firms must enable this by logging into Gabriel and completing a short one-time registration ahead of their move unless it has already been completed.

Viewing reporting schedules – improvements to the layout of a firm’s schedule and submission history

    • An intuitive layout – A firm’s reporting schedule in RegData will have improved navigation and functionality, with messages that make it clearer when data items are due and overdue.
    • Finding draft, past, due or overdue data items – In RegData, users can sort draft and past submissions by date and status. The user schedule automatically brings overdue items to the top of the page and users can expand or collapse details for each item.

Submitting data – better guidelines when making data submissions and enhancements to the data validation feature

    • Helpful messaging and clearer error flags – Submission issues in RegData will be easier to identify, particularly on a user’s schedule and in a form.
    • Step-by-step and smarter validation – The FCA has improved validation features. RegData validates data as it is input into the field. It has also included guidelines in each field and across the form to clarify the data it is expecting – such as currencies, types of files and entry type (numbers or text), as well as a form’s status (e.g. draft).
    • Form navigation and auto-save – Forms will have a clearer layout, with improved navigation using features such as the ability to zoom in and out on tables. Input data will also be automatically saved every two minutes.

The FCA is moving firms and their users to RegData in groups to minimise the impact on firms. Firms’ moving dates are determined by their reporting requirements, and they can find out what to expect from the move and from RegData by watching the FCA’s short videos or visiting its page on Moving Your Firm to RegData.

All users must register for RegData ahead of their move by logging in to Gabriel and completing the one-time registration when prompted. Until they are moved, firms should continue reporting via Gabriel using their existing Gabriel login details.

How can we help you?

If you’d like to know more about how we can help your FCA regulatory reporting, or with any other aspect of FCA compliance, our expert team is here to help. Contact us today on 0207 436 0630 – or email info@thistleinitiatives.co.uk.