RMAR

Regulator's data bulletin

Failure deemed 'significant'

Five times the FCA made no sense

Problems with the Financial Conduct Authority's (FCA's) online regulatory reporting system GABRIEL have now persisted for a week, leaving firms struggling to input their data.

The Financial Conduct Authority (FCA) has confirmed changes to the way it collects data from advisers in order to simplify the process, including by allowing them to report charging data on either a cash received or accruals accounting basis.

Regulated firms may only need to complete Section K of their Retail Mediation Activities Return (RMAR) once annually rather than the current twice-per-year under data changes proposed by the Financial Conduct Authority (FCA).

PRESSURE

The Financial Conduct Authority (FCA) has said it recognises it has "much to prove" to the advisory industry, but hopes its actions and approach will show it is different from previous regulators.