FCA to replace Gabriel system
Released 16 July 2019
The Financial Conduct Authority (FCA) plans to replace the current system for collecting data from firms. Currently 500,000 submissions are made annually on the Gabriel platform, with over 120,000 users from 52,000 firms.
In a press release, the FCA states that its work is ‘at an early stage’, but that they want to ‘implement an easy-to-use system so that [firms] can submit data to [the FCA] in a way that is efficient.’
The FCA is continuing to take feedback on the transition, and users are requested to complete the survey that is available on their website.