Risk & Regulation Rundown

In this episode of PwC's Risk & Regulation Rundown podcast series, host Tessa Norman is joined by Mark Batten, PwC UK Banking and Capital Markets (BCM) Leader, and Conor MacManus, Director in PwC UK’s Regulatory Insights team, to explore the emerging trends impacting the banking and capital markets landscape.  From navigating macroeconomic and geopolitical pressures, to responding to evolving regulatory and consumer expectations, our guests discuss the structural and strategic shifts shaping the future of the BCM sector, and share perspectives on how the sector can boost the UK’s mission of economic growth. We also unpack the impact of changing competition dynamics, industry consolidation, and rapid technological transformation - including AI adoption and digital banking - and consider how firms can evolve their business and operating models to remain competitive and thrive amid continued transformation across the sector.  Subscribe to the regular series here: https://www.pwc.co.uk/industries/financial-services/risk-and-regulation-rundown-podcast.html [https://www.pwc.co.uk/industries/financial-services/risk-and-regulation-rundown-podcast.html]

In the first of a three-part mini series exploring the trends impacting the financial services sub sectors, host Tessa Norman is joined by Albertha Charles, PwC UK and Global Asset and Wealth Management (AWM) Leader, and Andrew Strange, Director in PwC UK’s Regulatory Insights team, to take a deep dive into the drivers of change in the AWM sector.  Against a backdrop of market volatility, shifting investor expectations, and increasing regulatory complexity, our expert guests explore the forces reshaping the AWM landscape - from the rapid rise of private markets to generational wealth transfer. We discuss how technology is driving change, enabling both operational efficiencies and new revenue opportunities through innovations such as tokenised funds and tech-as-a-service offerings. Our guests also unpack the UK’s policy drive for growth, examining regulatory initiatives including the FCA’s advice guidance boundary review, consumer composite investment regime, and outcomes-based model of supervision. We conclude with a look at how firms are rethinking strategy in light of these trends, and what will differentiate those that thrive in this period of transformation.  You can contact our PwC speakers if you’d like to discuss any of the topics covered, at tessa.norman@pwc.com [tessa.norman@pwc.com], albertha.charles@pwc.com [albertha.charles@pwc.com], and andrew.p.strange@pwc.com [andrew.p.strange@pwc.com].  You can access the publications mentioned in the podcast below: * PwC value in motion: https://www.pwc.com/gx/en/issues/value-in-motion.html [https://www.pwc.com/gx/en/issues/value-in-motion.html]  * PwC’s Asset and Wealth Management Revolution: https://bit.ly/44lQVZF [https://bit.ly/44lQVZF]  To hear more from us on financial services risk & regulation, you can also 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].

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 tessa.norman@pwc.com [tessa.norman@pwc.com] and sean.withington@pwc.com [sean.withington@pwc.com].  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].

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 tessa.norman@pwc.com [tessa.norman@pwc.com] and menicos.kouvaros@pwc.com [menicos.kouvaros@pwc.com]   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].

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 tessa.norman@pwc.com [tessa.norman@pwc.com], sajedah.karim@pwc.com [sajedah.karim@pwc.com] and conor.macmanus@pwc.com [conor.macmanus@pwc.com]  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 [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 [https://www.pwc.co.uk/industries/financial-services/understanding-regulatory-developments.html]