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Gabriel and RegData Returns

The FCA’s regulatory reporting system Gabriel is currently being phased out and replaced by a new system, RegData.

The process began in October 2020, with firms’ moving dates determined by the nature of their reporting obligations and schedules. The FCA reported in January 2021 that 50% of firms had already switched from Gabriel to RegData.

Firms still using Gabriel must ensure they register for RegData as soon as possible, as the FCA will continue moving firms across in stages over the next few months.

The FCA’s Welcome to RegData video highlights some of the advantages compared to Gabriel. The FCA website also features a series of explainer videos and user guides on a dedicated RegData resources page.

Firms will not be able to access RegData until their users are moved across from Gabriel. Until then, they should continue to submit regulatory reports through Gabriel.

All Gabriel users must register for RegData before their firm’s scheduled move date. You can do this by logging in to Gabriel using your usual login details and completing a one-time activity when prompted.

Firms’ Principal Users should make sure all other users do this as soon as possible. If this hasn’t happened before the planned move date, it will be down to the Principal User to set up other Gabriel users on RegData (as new users) following the move.

Gabriel users who communicate directly or via Secure File Transfer Protocol (SFTP), rather than completing online submissions, do not need to register for RegData. The FCA will outline the process for these services prior to the move.

The suite of reports required by Gabriel and RegData returns present a recurring and constantly-changing challenge for financial services firms. But failure to complete and submit returns on a timely basis can attract fines or unwelcome scrutiny from the FCA.

The good news is that we can relieve you of some or all of that burden by drafting your returns for you or reviewing what you’ve compiled yourself before you submit it.

The daunting array of returns required by Gabriel and now RegData includes:

    • Annual accounts and reports (FIN-A)
    • Capital adequacy (FIN-CAP), (FIN066-068)
    • Annual controllers reporting (REP001-005)
    • FSA001-038
    • Client asset reports
    • Client money and assets reporting (CMAR)
    • COREP
    • Asset Encumbrance
    • AIFMD Annex IV
    • Market data reporting, including transaction reporting
    • Product sales data reporting (PSD reports)
    • Remuneration data reporting (REP004 and REP005)
    • Reporting complaints.

We can provide effective assistance with all of these and more, working seamlessly alongside your in-house resource.

For more information about our Gabriel and RegData returns services, call 0207 436 0630 to speak to a member of our expert team or email

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