AFB Seminar: UK and EU T+1 Accelerated Settlement – Regulatory Impact on Non-UK Banks

AFB, in partnership with PwC, invites members to attend an in-person seminar on the forthcoming introduction of T+1 Accelerated Settlement in the UK and EU. The seminar will review the regulatory landscape, key objectives of the change, lessons learned from the US and an overview of the key issues for non-UK banks.

Why attend?

The UK will be transitioning to a faster securities settlement cycle on 11 October 2027.  See here details of the report (published in February 2025) of the Technical Group appointed by the Government to oversee the transition to T + 1.

Firms/banks should now be considering the recommendations in the report and what is required to move to a T+1 settlement cycle and plan to deliver this transition. This session will focus on the following areas:

• Top priorities for firms – impact analysis, approach and key considerations to evaluate impact on clients, systems, processes and controls, workforce, risk management, vendors and 3rd parties
• Funding and liquidity – challenges and opportunities presented by a shorter settlement cycle and how firms can adapt their operations to maintain efficiency and stability
• Implications for firms’ operational resilience – requirement of faster service provision and increased pressure on underlying processes

Who should attend?

This session is aimed at those working in Operations, COO, Finance, Treasury, Risk and Compliance teams of AFB member banks.

Speaker

Menicos Kouvaros

Menicos is a Banking Partner with over 20 years of professional experience working with leading US, UK, European and Asian wholesale banking and capital markets clients. He has substantial experience advising and assisting leading financial services firms to successfully undertake strategic change, alignment to emerging industry practices and regulatory directed remediation. Menicos leads PwC’s T+1 Accelerated Settlement campaign in the UK and chairs the firm’s UK, EU & Swiss T+1 Accelerated Settlement WG connecting our partners and teams leading on this topic in their respective markets.

Meryl Harland

Meryl is a Banking Treasury Partner at PwC with extensive industry expertise in banking and regulation. She has a wealth of experience in improving operational efficiency and navigating regulatory changes. Previously, as Treasurer for Central & Eastern Europe at Deutsche Bank, Meryl successfully directed resources and strategies during critical periods, including navigating the challenges presented by the Russia & Ukraine crisis. Her deep understanding of prudential regulation encompasses liquidity, capital, leverage, interest rate risk, and recovery & resolution. Throughout her career, Meryl played a key role in driving prudential regulatory changes, equipping her with a strong foundation for addressing settlement efficiency enhancements, such as the transition to T+1 accelerated settlement. She has worked directly with Treasurers on the impact of T +1 accelerated settlement.

Duncan Scott

Duncan has worked as a regulatory specialist at PwC for over 20 years and is one of the Firm’s Operational Resilience practice leaders. He supports clients with the implementation of best practice Operational Resilience programmes, as well as approaches to implementing leading methodologies and tools. Duncan leads the firm’s relationship with the UK Regulators on the subject of Operational Resilience, and has also authored a number of thought leadership articles and podcasts relating to this subject. Prior to this, Duncan worked closely with international banks in the area of Compliance and Regulatory Change, and is experienced in understanding the impacts of changes such as T+1 settlement on firms, before then applying this to the resilience agenda.

Logistics

Fee:            Included in AFB membership

Location:    PwC, 7 More London Riverside, London SE1 2AQ

Date:          Tuesday 3 June 2025

Time:          09:00 – 10:30 (arrivals & breakfast from 8:30)

If you would like to submit a question that you would like the session to address, please send them to the AFB at secretariat@foreignbanks.org.uk You will receive details on how to join this in-person session a week before the event.