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

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

FOS award limit to remain unchanged

Compliance , , , , , ,

The FCA has made the following announcement about the FOS award limit. “When we increased the Financial Ombudsman Service’s award limit in April 2019 we said that each year, from 1 April 2020, we would adjust the award limits for complaints referred to the service on or after 1 April 2019 to ensure they keep […]

Read More
market downturn

10% depreciation reporting to be reviewed

Compliance , , , , , ,

The FCA has announced a review of the 10% depreciation notifications requirement. This requirement came into being with MiFIDII in January 2018 and is intended to ensure that investors are kept informed in periods of extreme market volatility. The volatility in markets as a result of the pandemic in 2020 created a need for multiple […]

Read More
Egg power fear hammer

Vulnerable clients – FCA finalised guidance

Compliance , , , , , ,

In February, the FCA published ‘Finalised guidance FG21/1: Guidance for firms on the fair treatment of vulnerable customers’. In launching the guidance paper, the FCA stated: “… 27.7 million adults in the UK now have characteristics of vulnerability such as poor health, experiencing negative life events, low financial resilience or low capability. Not all people […]

Read More
Concept of covid 19 in red background

GI and mortgage intermediary firms – PII cover and pandemic exclusions

Compliance , , , , , , , , ,

The significant increase in PII costs for firms providing investment advice in recent years and the difficulties for firms doing pension transfer business obtaining cover at any price for that type of business is well known. Issues with PII cover for GI or mortgage firms have been much more low profile. However, it seems that […]

Read More
calculation redress

Changes to DB Transfer redress calculations

Compliance , , , , , , , , , ,

FCA redress guidance has been updated as at March 2021 – this article explains the background as at the date of the Government’s announcement of the change and has now been updated with a follow up article which can be read here. The FCA has announced its intention to amend guidance for firms on how […]

Read More
Load More