What legacy systems has GABRIEL replaced?
In 2008, GABRIEL replaced the Early Reporting System (ERS) and the Firms Online (FoL) Regulatory Reporting system. It has also replaced the legacy systems used to collect data from banks, building societies, investment management firms and securities and futures firms. The main group of firms that will continue using legacy systems after 2008 will be life, general insurers, credit unions and some authorised professional firms (insurers report Complaints data via GABRIEL). Also, those firms currently using the Transaction Reporting System (TRS) will continue to report the relevant data using the TRS (e.g. product sales data).