Menu
Further Gabriel updates

The FCA has made some changes to the GABRIEL returns for firms with reporting periods ending on or after 31 December 2016.

The updated forms relevant to the majority of ATEB firms are minor changes to CCR003, RMA K and more major changes to RMA G. There is a significant increase in the information required for ‘RMA G Training and Competence’ for example it now includes the Professional Standards Data Return (PSDR) information.

This does mean the PSDR is no longer required after January 2017 submissions as the information will need to be provided in every GABRIEL submission.

At the time of writing the SUP 16 Annex 18 pages and FAQs have been updated to reflect the changes but it looks like the ‘Help text’ has not.

The FAQs can be accessed here and SUP 16 Annex 18 b can be accessed here.

Don’t forget to check Our View about this article and the Actions Required By You

Further Gabriel updates

Important Note: ATEB news is intended to provide general information ONLY. The content, including any views expressed or guidance provided, does not replace the need to comply fully with FCA Rules and Guidance. Unless you have discussed news article content with ATEB, and specifically how it relates to your circumstances, then ATEB disclaims all liability and responsibility and actions arising from any reliance placed upon it. For the avoidance of doubt therefore, any reliance you place on such information without our consultation is at your own risk.

ATEB Compliance offers compliance and regulatory advice.

ATEB Suitability provides report writing software for the financial services market.

Our View

These changes will require some additional pre-completion work to be carried out.

As mentioned in our last RMAR newsletter, the GABRIEL return is often the only contact the FCA has with a firm so it is essential it is completed accurately as it provides them with an indication how your firm is governed.

Action Required By You

  • Always have SUP 16 Annex 18B open when completing your GABRIEL return;
  • Refer to the FAQs and help text while becoming comfortable with the changes;
  • If in doubt ask your ATEB consultant. Click here to contact us.
SUIT - Beautiful Reports
CREATE BEAUTIFUL
SUITABILITY
REPORTS
TRY IT FOR FREE
SUIT - Complete Control
TAKE BACK
CONTROL OF YOUR
SUITABILITY REPORT
PRODUCTION
TRY IT FOR FREE
SUIT - Comp confidence
SUITABILITY
REPORTS
WITH FULL
COMPLIANCE
CONFIDENCE
TRY IT FOR FREE
previous arrow
next arrow

About the Author

Contact Us

Brought to you by

Explore more articles in this category

Other articles that you might be interested in

2019/20 Tax Year Changes & April 2019 Update

Dear CEO General Insurance Intermediaries Client Money Arrangements

Compliance , , ,

Following a series of financial resilience surveys and a letter issued in September last year the FCA has issued a Dear CEO letter about adequate client money arrangements, that can be accessed here.   The FCA is keen to ensure client money is adequately protected, that firms follow the CASS 5 rules and review arrangement […]

Read More
https---s3-eu-west-1.amazonaws.com-fta-ez-prod-ez-images-5-2-0-7-1217025-1-eng-GB-FCA2.JPG?v1

Regulation of pre-paid funeral plans

Compliance ,

We have received the following from the FCA:     “The FCA will regulate the sale and administration of pre-paid funeral plans from July 2022. We have today published:   Our Policy Statement which sets out the majority of our final rules. A Consultation Paper which covers proposed rules on resolution and access to the Financial Services Compensation […]

Read More
Pink paper origami

Managing drawdown

Compliance , , , , , , ,

In recent months, firms have been asking us about the process for managing drawdown plans. What do the rules require? Is a suitability letter necessary for every withdrawal? And a few other aspects. We take the opportunity here to share our views around this topic. For the sake of clarity, this is about the rules […]

Read More
Photo of code projected over woman

EU recognises UK data protection laws

Compliance , ,

Following on from a draft decision in February, the European Commission has now granted the UK access to EU data. The commission has formally recognised that UK data protection rules are “adequate” and that personal data can therefore flow in both directions between the EU to the UK. This removes one more difficulty for UK […]

Read More
https---s3-eu-west-1.amazonaws.com-fta-ez-prod-ez-images-5-2-0-7-1217025-1-eng-GB-FCA2.JPG?v1

Credit Broking Survey

Compliance , , , ,

The FCA has announced details of the forthcoming credit broking survey. The text of the announcement is shown below.   “Further to our email in May, we wanted to let you know that our pilot survey for 300 firms finished in June. As planned, the survey will now be sent to all remaining firms that […]

Read More
Load More