Since October the FCA has been moving firms across from Gabriel to the new data collection platform, RegData. The move to RegData is happening in stages. At time of writing, 22% of firms have been moved.
To prepare for the move, each Gabriel user needs to register for RegData before their planned moving date, by logging in to Gabriel and completing a one-time activity to link their Gabriel account to their Connect account.
All users are required to have completed the registration by 10pm on the Friday before the firm’s planned moving date. If registration is incomplete the FCA will not be able to move the firm from Gabriel to RegData. Firms will receive an email to communicate their planned moving date 3 weeks before the date, with reminders 5 days and 1 day to go.
Unsure whether you have already registered? Simply login to Gabriel and, if you are not prompted to register for RegData, that means you have already registered. For anyone not already registered, the FCA has set out the key steps firms will go through as they move to RegData, as well as a range of online resources to guide them when using the platform.
New pension nudge rules
Michael Senior Compliance 2018, 2022, FCA, Pension, Switch, transfer
One of our clients recently received this note from a SIPP provider. “You may already be aware that 1st June 2022 saw new FCA rules (Policy Statement PS21/21) come into force which require all pension providers to give clients a stronger ‘nudge’, in certain circumstances, towards guidance from the government’s Pension Wise service […]