In this episode, host Tessa Norman is joined by Derek Leatherdale, Senior Geopolitical Risk Adviser at Sibylline, and Sean Withington, Senior Manager in PwC’s Geopolitics team, to explore the rising prominence of geopolitical risk for the financial services sector.

Our expert guests unpack the complex and fast-moving nature of today’s geopolitical landscape, highlighting how this risk is increasingly shaping strategic, operational and regulatory priorities for firms. We delve into the evolving regulatory expectations and implications for firms’ operational resilience, cross-border capital flows, and risk and compliance structures.

Our guests also share practical actions firms can take to enhance their geopolitical risk management – from scenario planning and integrated testing to organisational structures – and reflect on how the sector can draw lessons from more mature industries. As firms look to the future, we discuss the steps leaders can take to build resilience and readiness in an era where geopolitics is a core risk consideration.

You can contact our PwC speakers if you’d like to discuss any of the topics covered, at [email protected] and [email protected]. 

To hear more from us on financial services risk & regulation, you can access all our regular publications at this site: https://www.pwc.co.uk/industries/financial-services/understanding-regulatory-developments.html. 

Host Tessa Norman is joined by Andrew Douglas, Chair of the UK Accelerated Settlement Taskforce, and Menicos Kouvaros, PwC Partner, to discuss the topic of T+1 settlement reform and the journey to go-live in October 2027. 

With both UK and EU T+1 transition timings now confirmed, our expert guests reflect on the lessons from the North American experience and how these should inform firms’ preparations for the UK’s move to T+1. Our guests provide their assessment of the current state of readiness across the industry, and share perspectives on the operational, technological and regulatory challenges facing firms - including automation demands, stock lending procedures, and FX constraints. We also share views on UK and EU coordination efforts, reflecting on the complexities of transitioning in both markets.

You can contact our PwC speakers if you’d like to discuss any of the topics covered, at [email protected] and [email protected]  

To hear more from us on financial services risk & regulation, you can access all our regular publications at this site: https://www.pwc.co.uk/industries/financial-services/understanding-regulatory-developments.html. 

In this special bonus episode, host Tessa Norman is joined by PwC Partner Sajedah Karim and Director Conor MacManus to unpack the FCA’s newly released five-year strategy — and what it means for financial services firms.

Our expert guests explore how the FCA aims to open up the debate around rebalancing risk, and drive a greater focus on enabling economic growth and embracing emerging technologies. The conversation dives into the regulator’s shift towards a more outcomes-focused approach, and how the FCA is taking this forward through its feedback statement on reviewing rules in light of the Consumer Duty.

Our guests also share practical insights on what this evolving regulatory environment means for firms — from shaping business models and strategy, to rethinking compliance in a more dynamic, tech-forward landscape.

You can contact our PwC speakers if you’d like to discuss any of the topics covered at [email protected], [email protected] and [email protected] 

To find out more about the FCA’s strategy, you can read our At a glance publication here: https://www.pwc.co.uk/industries/financial-services/understanding-regulatory-developments/fca-sets-out-growth-focused-strategy.html. You can also access our insights risk and regulation on our website: https://www.pwc.co.uk/industries/financial-services/understanding-regulatory-developments.html

In this episode, host Tessa Norman is joined by Duncan Scott and Rory Spedding-Jones from PwC’s Technology, Data and Resilience practice, to delve into the topic of operational resilience. 

Our expert guests reflect on financial services firms’ ongoing operational resilience journeys, how these are likely to evolve beyond the March 2025 UK implementation deadline, and how regulatory expectations are changing. Our guests also explore the evolving resilience landscape in response to changing threats and market expectations, as well as the transformative potential for AI and other technologies to enhance firms’ resilience capabilities, drive efficiencies and add value in the short and long term.

You can contact our PwC speakers if you’d like to discuss any of the topics covered, at [email protected], [email protected] and [email protected].  

To hear more from us on financial services risk & regulation, you can access all our regular publications at this site: https://www.pwc.co.uk/industries/financial-services/understanding-regulatory-developments.html. 

In this episode, host Tessa Norman is joined by Miles Celic, Chief Executive Officer of TheCityUK, and Darren Ketteringham, PwC UK’s Financial Services Industry Leader, to discuss a future vision for the UK financial and related professional services industry.

Our guests reflect on the themes of the Vision 2025 report, which was published jointly by TheCityUK and PwC in 2017, and which set out a roadmap for a highly digitised, innovative and customer-centric industry by 2025. Now, a month into 2025, and with the Government on the cusp of setting out its future strategy for the industry, we discuss progress made since the report’s publication, and the actions needed to ensure the industry is able to capitalise on the transformative changes expected over the next 5-10 years. 

Our guests explore the driving forces of technological transformation and the transition to net zero, and look at progress across themes such as customer centricity, regional development, and talent and skills. We also discuss the collective role of Government, industry and the regulators in enabling the sector to thrive, and to maximise its potential to drive sustainable inclusive economic growth. 

You can access the Vision 2025 report referenced in the podcast here.

In this episode, host Tessa Norman is joined by PwC Director Gemma Jones and Senior Manager Lucas Penfold, to explore the evolving landscape of sustainability regulation in the UK and globally.

Our expert guests reflect on the sustainability priorities of the new UK Government and the steps to implement the International Sustainability Standards Board’s (ISSB) standards. Our guests also share perspectives on how financial services firms can prepare to meet upcoming regulatory milestones, reflecting on the interoperability between sustainability regulations and the operational and strategic lessons for firms to consider as they look ahead. 

You can contact our PwC speakers if you’d like to discuss any of the topics covered, at [email protected], [email protected], and [email protected]. 

To hear more from us on Risk & Regulation, you can access all our regular publications at this site: https://www.pwc.co.uk/industries/financial-services/understanding-regulatory-developments.html. 

In this episode, host Tessa Norman is joined by PwC Partner Stephen Arnold and Director Samantha Jones, to discuss the growing regulatory scrutiny of the general insurance and protection market.  

Our expert guests explore the FCA’s recent supervisory work across the sector, with a focus on competition, price and value, and consumer outcomes. We delve into the key considerations for firms as they navigate evolving regulatory and consumer expectations. Our guests also share insights on the lessons that other financial services firms can learn from the insurance sector’s experience, and discuss how firms can prepare for future changes. 

You can contact our PwC speakers if you’d like to discuss any of the topics covered, at [email protected], [email protected], and [email protected]. 

To hear more from us on Risk & Regulation, you can access all our regular publications at this site: https://www.pwc.co.uk/industries/financial-services/understanding-regulatory-developments.html. 

This episode, host Tessa Norman is joined by PwC Partner Michael Snapes and Director Gordon Kemp, to deep dive into the evolving UK prudential banking landscape, navigating the impacts of the PRA’s Basel 3.1 final rules and proposed Strong and Simple regime.

Our expert guests unpack the details of the PRA’s recent publications, sharing insight on the UK’s journey to implement the Basel 3.1 rules and the development of its Strong & Simple framework. We highlight the expected impacts the changes will have on banks - both large and small - and key strategic considerations for banks as they strike a balance between capital requirements and their growth aspirations.   

Our guests also discuss the broader competition and market dynamics of these regulatory changes, both in the UK and internationally, and explore how firms can navigate the challenges and leverage the opportunities presented by these regimes.

You can contact our PwC speakers if you’d like to discuss any of the topics covered, at [email protected], [email protected], and [email protected]

To hear more from us on Risk & Regulation, you can access all our regular publications at this site: https://www.pwc.co.uk/industries/financial-services/understanding-regulatory-developments.html

This episode, host Tessa Norman is joined by Sarah Porretta, Deputy CEO of Fair4All Finance, and Howard Taylor, a Director in PwC’s Consulting practice, to explore the topic of financial inclusion.

Our expert guests share their perspectives on the importance of financial inclusion and why this is not a niche issue, with Fair4All Finance’s work demonstrating that over 20 million people are vulnerable to exclusion. Our guests navigate the commercial business case for inclusion, looking at issues such as risk appetite, the potential to serve new customer groups, and changing consumer and regulatory expectations. We also look at the challenges facing firms and consumers and the role that technology, data, and innovation can play in driving progress.

In addition, our guests discuss the Government’s future policy direction on inclusion and the value of cross-sector collaboration between industry, regulators and policymakers to promote the collective action necessary to support inclusive growth.

You can contact our PwC speakers if you’d like to discuss any of the topics covered, at [email protected], [email protected]. 

To hear more from us on Risk & Regulation, you can access all our regular publications at this site: https://www.pwc.co.uk/industries/financial-services/understanding-regulatory-developments.html. 

The speech referenced in our conversion was given by FCA Chief Executive Nikhil Rathi on 19 September 2024 and is available here: https://www.fca.org.uk/news/speeches/catalysing-productivity-and-growth-change-mindset-financial-inclusion 

In this episode, guest host Laura Talvitie, PwC UK Digital Assets Lead, is joined by Shearin Cao, EMEA Regulatory Policy Director at Citi, John Allan, Head of Innovation at the Investment Association, and Matt Blumenfeld, PwC’s Global Digital Assets Lead, to delve into the emerging world of tokenisation and its evolution in the financial services industry.

Our expert guests share insights on the opportunities tokenisation can bring in both investment products and tokenised money, as well as its transformative power to unlock additional capabilities for the wider financial ecosystem. Our guests also exchange views on the developing global regulatory landscape, spotlighting the value of public-private dialogue in shaping the future digital regulatory framework, and the near-term trends for firms to consider preparing for.