THE BVRLA has warned that leasing brokers should start preparing for the FCA’s move to its new data collection platform.

The new data collection platform will be known as RegData and replaces the current Garbiel system. The FCA said:

We’ll email firms’ principal user and associated users three weeks before their moving date, with reminders five days and one day to go. Compliance consultants will receive reminders for every firm their user account is currently associated with in Gabriel.

The process of onboarding to RegData will be determined by a broker’s reporting requirements.

The FCA says that while RegData will look familiar to Gabriel users, it will be faster and easier to use.

FCA says key actions to take before RegData migration are:

  • Ensure up-to-date contact details in Gabriel
  • Correct principal user and assigned administrator rights are correctly recorded in Gabriel
  • The information in Gabriel accurate about all other active users – with any non-active users disabled
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