Welcome to our Financial Services Sector update, providing you with a summary of the key regulatory developments and emerging business risks relevant for all financial institutions, including banks, building societies, investment and wealth managers and insurance and payments providers.

Our Financial Services team work with a broad range of financial services firms giving us extensive perspective on the issues facing the sector and what they mean for your business. The insights provided are aggregated across our in-house research, client base and the Regulators and professional bodies, to help inform your oversight and assurance activities over your firm’s priority risks and wider business activities.

In our latest update covering Q2 2026, we explore:

All Financial Services

• FraudTrack 2026: Discover the latest trends in fraud
• BDO Global Risk Landscape Report 2026: Extending ownership beyond the risk function
• What is a Section 166 or Skilled Person Review?
• What are the Regulatory Initiatives for the next 24 months?
• Consumer Duty annual reports - What should Boards be thinking about
• What is the Regulators take on AI?
• The Barclays case: VAT grouping and ‘fixed establishment’
• The benefits of modern finance and accounting software for the Financial Services Sector

Banking and Building Societies and Wealth and Asset Management

• Why is everyone worried about private credit?
• FCA review into bereavement processes – What action should firms be taking?

Insurance

• AI use cases in the insurance sector and rapid consumer use of AI
• CP11/26: A dedicated regulatory framework for captive insurers

Payments and E-money

• Patent Box: unlocking the value of innovation

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We hope this pack provides value to you and your colleagues; please do share with us any feedback you may have for future editions.

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