Problems with the Financial Conduct Authority's (FCA) online regulatory reporting system GABRIEL have now persisted for a week, leaving firms struggling to input their data.
The system has been experiencing difficulties since 28 February when it became unavailable, apparently due to high demand. The regulator said the problems are ongoing. It was previously thought the possible cause could be high levels of traffic from alternative investment fund managers, who faced a deadline to submit their information. GABRIEL stands for 'gathering better regulatory information electronically' and is the FCA's online regulatory reporting system, collecting and validating data. Advisers use the system to submit their biannual retail mediation activities return (RMAR...
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