FCA Survey Into Data Collection Platform Improvements

The FCA has announced potential improvements to its new data collection platform, based on user feedback.

In July, we reported that the regulator had announced plans to replace its data collection system, Gabriel, in order to improve the way regulatory data is collected from firms. These plans were at an early stage.

An online survey has been completed by over 1,000 Gabriel users and other Gabriel stakeholders. The feedback will be used to shape and develop the new platform.

The three key improvement areas identified were:

  1. Accessing Gabriel – improvements needed to the speed of the system and support accessing it
  2. Viewing the Gabriel reporting schedule – changes needed in layout of schedules and viewing of previous data submissions
  3. Submitting data – better guidance required and improvements needed to system’s data validation processes

The FCA has stated that the new platform will allow for issues to be fixed more quickly, support guidance will be improved as will the validation process.

Early changes to the platform will, the FCA say, be technology-based (i.e. behind the scenes) meaning that there will initially be no changes to the way firms currently provide data to the regulator.

The feedback survey is still open so click here if you wish to complete it.

About the author

Ash is Managing Director at RWA. He has over 15 years’ experience in the legal and compliance field and ten years in broker sales and leadership roles in national and global insurance firms.

He is highly skilled in the application of risk-based regulation, working closely with businesses at executive and board level to develop commercially viable, compliant systems and controls. Ash is adept in providing solutions-based interpretations of the FCA’s technical standards and facilitating the transfer of compliance skills and education needed for businesses to self-manage their own compliance and training needs.

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