Risk & Regulation Rundown

Duncan Scott and Paul Williams from PwC join the podcast to discuss the challenges and importance of operational resilience in an increasingly volatile environment. They emphasize the shift towards outcome-focused testing, the implications of the upcoming deadline in the banking industry, and the global nature of operational resilience. They also explore the importance of resilience as a driver for value, agility, and innovation.

In this episode, host Andrew Strange revisits the FCA’s Consumer Duty, alongside guests Iqy Hunjan and Ian Ody, Directors in PwC’s Consulting practice. Our expert guests navigate the FCA’s final Consumer Duty rules and guidance, exploring the key challenges facing firms in complying with the new requirements, as well as analysing the regulator’s expectations on monitoring outcomes.Our guests also talk through the progress firms have made to date across the market, breaking down what ‘good’ looks like for firms’ implementation plans and the delivery of good outcomes for their customers.You can contact our PwC speakers if you’d like to discuss any of the topics covered, at andrew.p.strange@pwc.com, ian.ody@pwc.com, iqvinder.k.hunjan@pwc.com.

In this episode, host Andrew Strange delves into the Metaverse world, alongside guests Yanna Zhu from PwC’s Metaverse Technologies team, and Laura Talvitie, a Senior Manager, in PwC’s FS Regulatory Insights team. Our expert guests break down the developing Metaverse landscape and discuss current trends and the drivers behind its recent high profile. Our guests also analyse what the future may look like for financial services firms grappling with the opportunities and risks the Metaverse presents, as well as what direction regulation may take in the future.You can contact our PwC speakers if you’d like to discuss any of the topics covered, at andrew.p.strange@pwc.com, laura.talvitie@pwc.com, and yanna.x.zhu@pwc.com

This episode explores the Solvency II reform and its impact on the insurance sector, including proposed changes to the risk margin and matching adjustment. It discusses the tension between the Treasury and the PRA, the importance of data accuracy, and the challenges insurers face in managing the regulatory agenda. The potential impact of the Solvency II review, increased inflation and interest rates, and other regulatory topics like IFRS 17 are also discussed.

In this episode, host Andrew Strange discusses the PRA’s business plan and what it means for banks, with two expert guests. Conor MacManus, a Director in PwC’s Financial Services Regulatory Insights team and Stephanie Henderson-Begg, a Director in our Banking Prudential team, join the podcast to analyse the PRA’s upcoming agenda and priorities, including governance and risk management, responding to digital innovation, and ensuring orderly exit. They also cover what the UK regulators’ additional objective for growth and international competitiveness (introduced as part of the Future Regulatory Framework review) will mean in practice, and how banks can prepare for Basel 3.1. You can contact our PwC speakers if you’d like to discuss any of the topics covered, at andrew.p.strange@pwc.com, conor.macmanus@pwc.com and stephanie.k.henderson-begg@pwc.com

In this episode, guest host Tessa Norman discusses the FCA’s business plan and strategy with Andrew Strange and Conor MacManus, Directors in PwC’s Financial Services Regulatory Insights team. We look at how this year’s plan has been shaped by the challenging political and economic context, what the plan tells us about the regulator’s priorities and expectations, and the practical steps firms can take in response. Our experts also give their views on the FCA’s fleshed-out approach to outcomes-based regulation, and what this means for firms and how they approach compliance. You can contact our PwC speakers if you’d like to discuss any of the topics covered, at andrew.p.strange@pwc.com, conor.macmanus@pwc.com and tessa.norman@pwc.com

In this episode, host Andrew Strange discusses the evolving regulatory approach to artificial intelligence (AI), alongside PwC guests Fabrice Ciais, Director of AI, and Belinda Baber, a Manager in the FS Regulatory Insights team. With the AI Public Private Forum (AIPPF) recently publishing its final report, the regulatory direction on AI is becoming clearer. Our expert guests discuss how FS firms are using AI and how that’s likely to evolve; the actions firms should take following the AIPPF report; the challenges firms face on topics including governance and explainability, and how they can overcome them. You can contact our PwC speakers if you’d like to discuss any of the topics covered, at andrew.p.strange@pwc.com, fabrice.ciais@pwc.com and belinda.j.baber@pwc.com

David Kenmir, Partner in PwC’s Authorisation and Conduct practice, and Tessa Norman, Manager in our Financial Services Regulatory Insights team, discuss the challenges and opportunities of the FCA's consumer duty proposals. Topics include subjective judgment calls, monitoring outcomes, preparation steps for firms, and the impact on supervisory interactions with the regulator. The podcast also explores value assessment in the financial industry, embracing the purpose of consumer duty regulation, and the connection between consumer duty and ESG initiatives.

As many firms move to a long-term remote/hybrid working model, there are a range of issues to navigate, from meeting regulatory expectations, to maintaining cultural cohesion. In this episode, host Andrew Strange is joined by Sarah Passmore, a Director in PwC’s People and Organisation business, and John Newsome, a Director in our Asset Management regulatory practice, to discuss how firms are approaching these challenges and how they can manage the associated risks. We talk about meeting the FCA’s recently published expectations on remote/hybrid working, managing the regulatory and tax implications of staff working outside the UK, and navigating the wider impacts of hybrid working, from leadership to culture and diversity and inclusion. Our guests also discuss the impact on employee attraction and retention, the growing ‘power shift’ from employers to employees, and what the future of work looks like.You can contact our PwC speakers if you’d like to discuss any of the topics covered, at andrew.p.strange@pwc.com, sarah.l.passmore@pwc.com and john.newsome@pwc.com

In this episode, we discuss how a range of market, societal and regulatory shifts are changing the way insurers and wealth managers do business. Host Tessa Norman is joined by Andrew Strange, a Director in PwC’s FS Regulatory Insights team, who specialises in asset management, and Darshan Chandarana, a PwC Partner who specialises in digital transformation. We discuss the recent acceleration in the adoption of new technologies such as cloud, and how firms are using these developments to take a more customer-centric approach. We also talk about the FCA’s focus on value and customer outcomes, the impact of public policy debates on issues such as social care and access to advice, and what insurance and wealth management firms can learn from the banking sector. You can contact our PwC speakers if you’d like to discuss any of the topics covered, at tessa.norman@pwc.com, darshan.chandarana@pwc.com and Andrew.p.strange@pwc.com