Gabriel reports must be accurate as the FCA prepare to review data submissions in time for a report in October
Written by Charlie Palmer on 10/08/2018

Gabriel reports must be accurate as the FCA prepare to review data submissions in time for a report in October. The Bat system developed by IFAC will ensure consistent Gabriel reporting direct from your new business book. Known as Bat this was first used by a major network and is the only compliance risk management system on the market.  

All the outputs are driven by your new biz and turnover entries and CPD log. This one system is all you need to keep a compliant practice. 

The central feature of the software is that no one office can survive on one system.

You need a system for compliance that stands alone and specializes in just that.  It is no surprise that an update from the FCA will be published in October. Incorrect data returns are the unexploded ordinance of this industry. 

Firms that have been fined for incorrect transaction reporting have to date been restricted to the share market transaction space, where complicated software has to report data by daily deadlines. However in the advice space there is no excuse for incorrect allocation of investment intermediation fees. 

All news