FCA completes transition to new data collection platform

The Financial Conduct Authority (FCA) has completed its move from Gabriel to RegData, the organisation’s new data collection platform.

 The FCA began the transition of 52,000 companies and 120,000 users in October last year, with the timing of each group move based on their reporting requirements.

According to the FCA, RegData is central to its data strategy and will ‘harness the power of data and advanced analytics to transform financial regulation’.

The new platform is informed by user feedback from Gabriel and is quicker to navigate and easier to use, the FCA claims. The organisation said the changes made to the platform were technology-focused – but highlighted this hasn’t changed the way firms currently provide data to them.

RegData is built with ‘flexible’ technology that makes it much easier to fix issues more rapidly as well as to make ongoing improvements to user experience. The FCA has also published a range of user guides and explainer videos for the new platform which can be accessed via its website.

The UK’s Financial Conduct Authority (FCA) was recently found to have sent over 4,000 staff on cybersecurity training to help combat online threats.

Over the past two financial years, the FCA has sent 4,430 of its staff on compulsory cyber and information security courses to help combat the growing threat of financial crime, such as money laundering and fraud.

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