FCA to replace Gabriel with new data collection platform

Gabriel is the FCA's main regulatory data collection system, facilitating the collection of over 500,000 submissions annually, across 120,000 users and 52,000 firms.

The FCA has asked all users to complete a survey to help the development of the new platform, and plans to run a programme of events and activities to capture views and test the new system.

Discussing what the new platform would look like, the FCA said it plans to implement an easy-to-use system which will improve the efficiency of data submission.

Early changes are expected to be technology focused, so initially there will be no change to the way data is provided.

In a statement, the FCA said: "This work is central to our Data Strategy, which is designed to help us deepen our understanding of markets and consumers, and more swiftly identify, appropriately intervene and remediate issues to minimise harm.

"This new data collection platform supports our Digital Regulatory Reporting work which is exploring how technology could make it easier for firms to meet their regulatory reporting requirements and improve the quality of information they provide."

The FCA plans to publish feedback to its survey later this year, and will then speak with stakeholders to discuss the feedback themes and plans for the new data collection systems.