Risk & Regulation Rundown

The podcast discusses the FCA's proposals for a new consumer duty and the evolving UK regulatory framework post-Brexit. It explores the potential impact on product design, business models, and accountability. The hosts also examine the challenges and costs of the UK shaping its own regulatory framework. Additionally, they discuss the growing scope of regulatory focus in the financial services industry, including diversity inclusion, climate change, and technology change. The importance of clarity, confidence, and investment in data capabilities to meet regulatory expectations is highlighted.

In this episode we discuss ESG, or environmental, social and governance issues – returning to the subject of one of our most popular episodes (check out Series 2 Episode 1: Finding purpose through ESG). Regular host Andrew Strange is joined by Jon Williams, a Partner in our sustainability and climate change team and a member of the FSB’s Task Force on Climate-related Financial Disclosures, and Luke Nelson, a Senior Manager in our Regulatory Insights team. We discuss the packed regulatory agenda, how firms are tackling issues such as social purpose, diversity and net zero strategy, and the challenges and opportunities that ESG initiatives bring. You can contact our PwC speakers if you’d like to discuss any of the topics covered, at Andrew.p.strange@pwc.com, jon.d.williams@pwc.com and luke.a.nelson@pwc.com

Andrew Strange is joined by Adam Stage, who leads PwC’s regulatory insight on operational resilience, and Kelechi Igboko, a Director who leads the operational resilience work. They discuss the UK authorities’ approach to operational resilience, overcoming challenges, and the importance of starting early and collaborating with colleagues. Operational resilience is linked to other regulatory challenges, firms are encouraged to leverage existing risk frameworks and align with OCIR.

In this episode we discuss the FCA’s final guidance on the fair treatment of vulnerable customers. Regular host Andrew Strange is joined by PwC Partner Angus Goldie and Conor D’Arcy, Head of Research and Policy at the Money and Mental Health Policy Institute, to discuss how the guidance will impact both firms and consumers. We cover how the guidance will be supervised and enforced, the challenges firms face in meeting regulatory expectations, and the extent to which the guidance will help consumers.Please contact our PwC speakers if you’d like to discuss any of the topics covered, at andrew.p.strange@pwc.com and angus.goldie@pwc.com. 

This episode explores one of the first post-Brexit regulatory initiatives to hit financial services firms: the Investment Firm Prudential Regime (IFPR). Regular host Andrew Strange is joined by PwC Partner David Croker and PwC Director Jill Townley to discuss how the regime will impact the way firms approach risk and remuneration; what firms need to do to prepare for implementation; and how the UK and EU regimes compare.Please contact our speakers if you’d like to discuss any of the topics covered, at Andrew.p.strange@pwc.com, David.w.croker@pwc.com and jill.h.townley@pwc.com

In this episode, we discuss the rapidly evolving cryptoassets market. Regular host Andrew Strange is joined by Henri Arslanian, PwC’s Global Crypto leader who’s based in Hong Kong, and Sharon-Marie Fernando, a Senior Manager in PwC’s UK Financial Services Regulatory Legal Practice. We cover how regulators are developing their approaches to cryptoassets, both in the UK and elsewhere, and the challenges and opportunities that cryptoassets present for financial services firms.Please contact our speakers if you’d like to discuss any of the topics covered, at Andrew.p.strange@pwc.com, henri.arslanian@hk.pwc.com and sharon-marie.fernando@pwc.com .

In this episode, we discuss the regulatory landscape for insurers, from the impact of climate change, to upcoming changes to the prudential rules. Regular host Andrew Strange is joined by Rod Bryn-Hussey, a Director in PwC’s Insurance Risk and Regulation practice, and Anirvan Choudhury, a Senior Manager in PwC’s Regulatory Insights team. We cover how the climate change agenda is impacting insurers, what the UK’s review of Solvency II means for firms, and how competing regulatory priorities fit together.Please contact our speakers if you’d like to discuss any of the topics covered, at andrew.p.strange@pwc.com, rod.bryn-hussey@pwc.com and anirvan.choudhury@pwc.com .

HM Treasury (HMT) joins us for this episode, as we discuss how the regulatory framework will develop in a post-Brexit world. Regular host Andrew Strange speaks to Lee O’Rourke, Senior Policy Adviser for the Future Regulatory Framework at HMT, and Conor MacManus, a Director in PwC’s FS Regulatory Insights team, about how the future framework is taking shape, and some of the benefits and challenges it might pose for firms and regulators.Please contact Andrew or Conor if you’d like to discuss any of the topics covered, at Andrew.p.strange@pwc.com, or conor.macmanus@pwc.com .

In this episode, we discuss how consumer insights and behavioural economics can inform regulation and firms’ approaches to compliance and performance. Regular host Andrew Strange is joined by Sam Grew, an Insight Consultant for PwC Research, and Patrick Welsh, a behavioural scientist focused on the future of work. We talk about how regulators and firms use consumer research and behavioural science, and how behavioural science can shape organisational culture and the future of work.Please contact Andrew, Sam or Patrick if you’d like to discuss any of the topics covered, at Andrew.p.strange@pwc.com, sam.grew@pwc.com and p.welsh@pwc.com 

In this episode, we discuss how firms can deliver fair value products and services. Regular host Andrew Strange is joined by Mark Spiers, a Director in PwC’s wealth management team, and Ann-Marie Stone, a Senior Manager who focuses on insurance conduct issues. We consider how firms can meet the FCA's and customers’ expectations on value, particularly in the wealth management and insurance sectors, as well as the impact of technology and innovation. Please note that since we recorded this episode, the FCA has published a call for input on the consumer investments market, which could have further implications for value in the wealth management sector. You can find out more about this call for input in our At a glance publication.Please contact Andrew, Mark or Ann-Marie if you’d like to discuss any of the topics covered, at andrew.p.strange@pwc.com, mark.spiers@pwc.com and ann-marie.stone@pwc.com.