Risk & Regulation Rundown

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 and 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.

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, sajedah.karim@pwc.com and 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. 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 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 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 tessa.norman@pwc.com, samantha.x.jones@pwc.com, and stephen.arnold@pwc.com. 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 tessa.norman@pwc.com, howard.taylor@pwc.com. 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

Host Tessa Norman is joined by Jess Lewis and Jamie Drysdale, both Directors in PwC’s insurance practice, to take a deep dive into the trends shaping the UK life insurance and retirement sector.Our expert guests discuss how macro trends such as changing workforce dynamics, economic and political drivers, and health and longevity trends are impacting customer expectations and needs, and the resulting impact on providers. Our guests also spotlight the role of regulatory initiatives and technology in driving transformation. They share insights on how firms can overcome challenges related to data and legacy systems to ensure they’re equipped for the future and to meet the higher standards of service which customers have come to expect from other sectors. You can contact our PwC speakers if you’d like to discuss any of the topics covered, at tessa.norman@pwc.com, jessica.x.lewis@pwc.com and jamie.drysdale@pwc.com. 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 the first episode of a new series, host Tessa Norman is joined by David Kenmir, PwC Partner in Financial Services Risk and Regulation, and Amrita Sawhney, a Director in PwC’s Technology, Data and Analytics team, to take an in-depth look at the evolving redress and remediation landscape in the UK. Our expert guests discuss the changing regulatory focus on redress and remediation, spotlighting the impact of the FCA’s ongoing motor finance discretionary commission review, and heightened expectations set by the Consumer Duty. Our guests also share perspectives on the increasing data demands of the regulator and how firms can better utilise their data by shifting from a ‘data-defensive’ to a more proactive ‘data-offensive’ approach. Finally, we exchange views on what a good remediation programme looks like, and the opportunities to harness technology to drive efficiency and effectiveness in this process. You can contact our PwC speakers if you’d like to discuss any of the topics covered, at tessa.norman@pwc.com, david.kenmir@pwc.com, amrita.k.sawhney@pwc.com To hear more from us on Risk & Regulation, you can access our regular publications at this site: https://www.pwc.co.uk/industries/financial-services/understanding-regulatory-developments.html, including our recent article on complaints and redress: https://www.pwc.co.uk/industries/financial-services/understanding-regulatory-developments/complaints-and-redress-meeting-a-higher-bar.html