Given that FCA Derivatives Use Reporting (FSA042) is reported in the same XML format as AIFMD, we expect any error messages to be similar when submitting a Return to GABRIEL.
GABRIEL will require data to be Validated and Cross-Validated. The purpose of this is not to highlight any incorrect entries or figures in the data provided; this must be checked and reviewed manually and agreed upon with the client.

GABRIEL/XML validation will, however, highlight any areas in which there are errors, or inconsistencies in how the submission has been completed.
The report involves several data element fields that are mandatory, as well as a majority of fields that are conditional upon the data that precedes it.

For example some examples of potential errors are as follows:

• Certain fields are populated when they shouldn’t be;
• Fields that are not populated when they should be;
• Data is entered in an incorrect format – i.e. text entered in a field that should be populated with a numerical value.

GABRIEL will generally provide a clear explanation as to which data fields are causing the issues, as well as provide a summary of what the issue is. Given this information we are able to open the XML manually, using Notepad or a similar program, and edit the appropriate field.