UK FCA Data Collection RegData Use
On Jan. 20, UK FCA confirmed half of firms now moved to RegData.
- UK FCA says half of reporting firms have moved to their new data collection platform.
- Follows UK FCA Mar. 2020 announced RegData platform replaces Gabriel, see #74955.
- RegData is central to FCA data strategy, with advanced analytics, transform regulation.
- The move over to RegData commenced in Oct. 2020, with firms moving dates being determined by the nature of both their reporting obligations and relevant schedules.
- All Gabriel users must register for RegData before their move by logging in to Gabriel with their normal login details and completing the one-time activity when prompted.
- Firms’ Principal Users must ensure all users complete this activity as soon as possible.
- This needs to be completed before the planned moving date, otherwise the Principal User will need to set others up as new users once the firm has moved to new system.
- A Gabriel user who does not complete online submissions and communicates with UK FCA directly or via SFTP instead of accessing Gabriel online, will not need to register.
- UK FCA will outline process for these services before they move, so they are prepared.
- Moving Process
- To ensure a smooth transition UK FCA will continue to move firms across in stages.
- Firms will not be able to access RegData until we move their users across from Gabriel and until then, they should continue to submit the regulatory reports through Gabriel.
- UK FCA has provided a number of resources including a dedicated information page and a number of online videos to assist firms and individual users with the changes.
- Jan. 22, 2021 Registration Update
- On Jan. 22, 2021, UK FCA issued update on action required to register on RegData.
- Firms must register for RegData by completing a one-time activity by 6pm on the Friday before the planned moving date; otherwise it will not be moved to RegData.
- Firms need only register once and those that are unsure whether they have registered or not, can check if they have been registered by following steps set out by the FCA.
- Firms will receive an email notification 3 weeks before their planned moving date.
||B/D; Bank; Depo; Exch; IA; Ins
||PR 1/22/2021; PR, Vid, Gd 1/20/2021
||Compliance; Financial; Legal; Operations; Registration; Reporting; Technology; Trade Reporting; Training
||Banking; Fund Mgt; Insurance; Securities
|Reg. Last Update
Last substantive update on 01/26/2021