FSA overhauls reporting regime for firms

Currently, certain written reports are submitted to the FSA outside of GABRIEL via alternative methods, such as post, hand delivery, email or fax. There is a dedicated central reporting team that handles the regulatory data received via these alternative methods. However, as a result of the current rule, firms who have a dedicated supervisory contact usually address their written reports accordingly, with the result that these reports are not being received by the dedicated team, according to the regulator. "This current mechanism creates inconsistencies in the way in which we collect...