FCA Announces Changes to GABRIEL

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On September 14, the Financial Conduct Authority (FCA) published an update announcing changes to GABRIEL (Gathering Better Regulatory Information Electronically), its online reporting, data validation and filing portal.

GABRIEL is used by UK-based firms, which are authorized and regulated by the FCA, as well as non-UK firms that have a regulatory nexus with the UK (i.e., firms that have filed with the FCA for eligibility to conduct fund marketing activities in the UK). All such firms must make their filings and reports available to the FCA via GABRIEL.

The FCA states that as of Monday, September 21, GABRIEL will be moved to a new URL (located here). At this time, users can log into GABRIEL by selecting “Proceed to GABRIEL,” which will take them to a new welcome page. From this welcome page, users can click “Proceed to Login” and enter their user ID and password as usual.

Users’ login details will remain the same; however, the FCA also has released a Quick Reference Guide (QRG) that explains how to log into GABRIEL, change personal details and change/request a new password.

It is thought that the changes to GABRIEL were precipitated by a system crash at the end of February 2015 that resulted from FCA-registered fund managers in the UK and non-UK firms, which had registered with the FCA for UK marketing, trying to file Alternative Investment Fund Managers Directive Annex IV reports in the days before the first quarterly reporting deadline.

The FCA’s announcement is available here.

The QRG is available at here.

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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