Risk & Regulation Rundown

Targeted Support: the start of a new advice era S8E3

Host Tessa Norman is joined by PwC Directors Andrew Strange and Ian Ody to unpack how targeted support will impact consumers and firms, and how it fits into the FCA’s wider agenda to improve consumer outcomes and expand retail participation in capital markets. Our expert guests discuss the strategic choices firms face, from identifying use cases and customer segments, to navigating conduct risks and evolving their offering over time.  We also look ahead to how data, AI and evolving business models could reshape the advice and guidance landscape over the coming years, and why targeted support may be just the starting point of a much broader transformation.  To find out more, please contact any of our speakers at tessa.norman@pwc.com [tessa.norman@pwc.com], ian.w.ody@pwc.com [ian.ody@pwc.com] or andrew.p.strange@pwc.com [andrew.p.strange@pwc.com]. You can also access our risk and regulation insights on our website at: https://www.pwc.co.uk/industries/financial-services/understanding-regulatory-developments.html [https://www.pwc.co.uk/industries/financial-services/understanding-regulatory-developments.html]

Optimising the UK prudential framework: Basel 3.1 and beyond S8E2

In this episode, host Tessa Norman is joined by PwC Partner Michael Snapes and Director Stefanie Aspden from PwC’s Banking Financial Risk practice, to unpack recent developments across the UK banking prudential framework.     With the PRA recently finalising Basel 3.1 rules, and a wider set of changes spanning MREL, IRB model approvals and the Strong and Simple (SDDT) regime, our guests explore how these reforms fit together - and what they mean in practice for banks of different sizes and business models. They also discuss the Financial Policy Committee’s system-wide capital review, the PRA’s evolving approach to supervision, and the opportunities for firms to reset balance sheets and strategy in response.     In addition, the conversation tackles wider questions of whether these shifts represent a sensible optimisation of the post-crisis framework, or risk losing sight of the lessons learned during the financial crisis.

No time to lose: Reasserting UK leadership in financial and related professional services S8E1

The UK’s financial and related professional services industry is at a critical juncture. With global competition intensifying and technology reshaping markets, standing still is no longer an option. In this episode, host Tessa Norman is joined by Miles Celic OBE, Chief Executive of TheCityUK, and Darren Ketteringham, PwC UK’s Financial Services Leader, to discuss insights from a new PwC and TheCityUK report on the future of the industry.  The conversation explores why bolder ambition, faster delivery and more decisive reform are essential to secure the UK’s leadership as a global financial centre for the next decade. Our guests unpack the report’s five imperatives for action – from leading at the frontier of financial technology, to building a nation of investors.  We also discuss the scale of the opportunity, with PwC modelling showing that acting decisively could unlock over £50bn in additional annual economic output by 2035.  Explore the full report [https://www.pwc.co.uk/industries/financial-services/vision.html?WT.mc_id=CT2-PL200-DM3-TR3-LS4-ND30-TTA9-CN_visionInternal] here: https://www.pwc.co.uk/industries/financial-services/vision.html?WT.mc_id=CT2-PL200-DM3-TR3-LS4-ND30-TTA9-CN_visionInternal [https://www.pwc.co.uk/industries/financial-services/vision.html?WT.mc_id=CT2-PL200-DM3-TR3-LS4-ND30-TTA9-CN_visionInternal]

Solvent exit planning – what insurers need to know  S7E9

With the PRA’s PS20/24 rules requiring UK insurers to complete their first Solvent Exit Analysis by June 2026, this episode breaks down what solvent exit planning means in practice. Guest host and PwC Director Pete Thomas speaks with Directors Sarah Watson and James Cameron, and PwC’s Global Insurance Regulatory Leader Carlos Montalvo to explore: how the new regime fits within the UK’s evolving recovery and resolution framework; the international context; and lessons from real cases of insurer stress and failure.  Our expert guests discuss how firms can leverage existing ORSA, wind-down and resilience work; and how to overcome practical challenges around triggers, data, and operational readiness. We also unpack how effective solvent exit planning can unlock capital, sharpen decision-making under stress, and strengthen overall resilience.  Please contact peter.m.thomas@pwc.com if you’d like to discuss any of the issues covered.  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 [https://www.pwc.co.uk/industries/financial-services/understanding-regulatory-developments.html].

Tokenisation: redefining the future of funds and financial markets S7E8

In this episode, guest host Laura Talvitie, who leads PwC’s work on digital asset regulation, speaks with Jonny Fry, CEO of TeamBlockchain and Digital Bytes, and Daniel Dzenkowski, PwC’s Crypto-Asset Reporting Framework Lead.   Regulators, asset managers and technology providers are all exploring how tokenisation could redefine how funds and assets are structured, issued and traded. Against this backdrop, our guests discuss the UK’s evolving approach to fund tokenisation and the FCA’s consultation on this topic. They also explore the potential role of blockchain in financial markets and what firms should be doing now to prepare.