Risk & Regulation Rundown

In this episode, guest host Dan Perks is joined by Karina Hutchins, Principal Lead for Regulatory Mortgage Reform at UK Finance, and Alex England, a Director in PwC’s Non-Financial Risk practice, to explore how the UK mortgage market is evolving, the changing regulatory landscape and the role of data, technology and AI.Against a backdrop of affordability pressures and changing borrower needs, our guests discuss the FCA’s latest proposals on responsible lending and the opportunity to widen access to sustainable home ownership while maintaining strong consumer protections. They explore greater flexibility for first-time buyers, self-employed and later-life borrowers, the potential role of interest-only lending, and how lenders can balance growth, risk and Consumer Duty while delivering and evidencing good customer outcomes.

In this episode, host Tessa Norman is joined by Leigh Bates, PwC’s Global Risk AI Leader, and Lilia Christofi, PwC’s EMEA Financial Services Data, AI and Tech Leader, to explore how financial services firms and regulators should respond as AI adoption accelerates and systems become more autonomous. Against the backdrop of the FCA-commissioned Mills Review and the Financial Services AI Adoption Plan (an independent report published by HM Treasury), our guests unpack the shift from experimentation towards AI at scale. They discuss what greater autonomy could mean for firms and consumers, where existing regulatory frameworks may come under pressure, and how firms need to evolve governance and assurance as AI moves from supporting decisions to taking actions. Finally, our guests share practical priorities for boards, and discuss the people, technology, data and operating-model foundations that firms need to be able to turn AI pilots into trusted, scalable deployment. If you'd like to find out more, contact our speakers at [email protected] and [email protected]. You can also explore the full findings of PwC's AI Performance Study: https://www.pwc.com/gx/en/1/issues/tech-data-ai/ai-roi.html

In this episode, host Tessa Norman is joined by Sajan Shah, PwC Director specialising in private credit, and Conor MacManus, PwC Managing Director, to explore the rapid growth of private credit and what it means for firms across financial services.  Our guests unpack how the private credit market is evolving, the drivers behind its growth, and the opportunities it presents. The discussion also explores why regulators are paying closer attention to the sector, with a focus on credit quality, transparency, data and interconnectedness between asset managers, banks and insurers.We also consider the likely impact of regulatory initiatives such as the Bank of England’s system-wide exploratory scenario. Finally, we explore the practical steps firms can take to strengthen governance, improve data and reporting, manage valuation and liquidity risks, and prepare for the next phase of private credit’s development.To find out more, please contact our speakers at [email protected] and [email protected]. You can also read the full PwC Global Private Credit Survey findings at: https://www.pwc.com/gx/en/industries/private-equity/private-credit-survey.html 

In this episode, host Tessa Norman is joined by Laura Talvitie, PwC Digital Assets Regulatory Lead, and James Moseley, PwC Banking Partner and Digital Assets UK Lead, to explore the next phase of tokenisation across financial services.Our guests unpack the UK’s evolving regulatory landscape, growing market momentum, and the shift from experimentation to live use cases. The discussion explores how tokenisation is developing across banking, asset and wealth management, insurance and crypto-native firms, and what this could mean for market infrastructure, competition and consumer outcomes.We also consider the strategic choices facing firms, the risks and barriers to adoption, and the steps firms should be taking now to identify and prioritise viable use cases and build operating model readiness. Finally, we explore how firms can position themselves for a more tokenised future financial ecosystem.To find out more, please contact any of our speakers at [email protected], [email protected] or [email protected]. 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 

In this episode, we explore the UK’s final Sustainability Reporting Standards (UK SRS) and what they mean for listed companies and the wider financial services sector. Guest host and PwC Director Andrew Strange is joined by ISSB Board Member Richard Barker and PwC’s Gemma Jones (Sustainability Director, Insurance and Asset & Wealth Management) to discuss what the UK SRS mean in practice, how they build on ISSB foundations, and what the FCA’s recent consultation could signal for listed companies. The conversation highlights why this is more than a compliance exercise, and the opportunity for organisations to reset their approach, focusing on materiality, stronger links to financial reporting, and more decision-useful insights for investors.  To find out more, please contact [email protected]. You can also access our At a glance briefing on the final UK SRS at: https://www.pwc.co.uk/industries/financial-services/understanding-regulatory-developments/uk-government-endorses-uk-sustainability-reporting-standards.html 

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 [email protected], [email protected] or [email protected]. 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 

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.  

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 here: https://www.pwc.co.uk/industries/financial-services/vision.html?WT.mc_id=CT2-PL200-DM3-TR3-LS4-ND30-TTA9-CN_visionInternal

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 [email protected] 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. 

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.