Earlier this month, 120 senior compliance professionals gathered in the
Members Dining Room at the House of Commons for SteelEye’s 9th
annual Regs & Eggs, our flagship breakfast event exploring key issues and trends in the financial services compliance sector.
The venue was iconic. The conversations rich. And yes - the eggs were excellent!
From navigating regulatory transformation to fostering global cooperation and exploring the evolving role of AI in compliance, this year’s sessions unpacked the trends shaping financial services regulation in 2025. If you weren't able to join us on the day, here’s a round-up of what you missed - and why it matters.
SteelEye CEO Matt Smith opened the morning with a warm welcome and a reflection on the increasing complexity of the compliance function in a rapidly evolving environment. He also thanked event sponsor Amazon Web Services (AWS) and set the stage for a morning of insight, debate and collaboration.
Contents
AWS: Regulation Through a Technology Lens
In the opening session, Michael Jefferson, Head of Financial Services Public Policy (UK, MEA & Switzerland) at AWS, explored the intricate relationship between regulation and innovation.
“The decisions we make today will determine whether we lead the future – or follow it.”
Michael highlighted the tension regulators face in overseeing horizontal technologies such as AI and cloud within vertically regulated industries such as financial services. Drawing lessons from history, including the UK’s restrictive “Red Flag” road vehicle laws of the 1800s, he made a compelling case for flexible, risk-based and outcomes-focused regulation that empowers innovation rather than stifling it.
Key takeaways:
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Smart regulation leverages existing frameworks to adapt for new tech, rather than reinventing the wheel.
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Global consistency is essential for scalable innovation and compliance.
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Regulatory bodies themselves are embracing ‘SupTech’, with AI and cloud now playing an increasingly important role in supervisory activities.
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Ongoing collaboration between regulators, firms, academia and technology providers is critical to shaping informed, effective policy.
The Regulator Panel: Global Perspectives on a Shifting Regulatory Landscape
Next came the headline panel discussion:
“Navigating the Future of Global Financial Regulation: Challenges, Innovations & Compliance Trends.”
Expertly chaired by Sarah Hone, Head of Primary Market Oversight at the Financial Conduct Authority (FCA), the panel brought together senior regulators from three major European authorities:
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Jamie Bell, Head of Secondary Market Oversight, FCA - UK
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Philippe Guillot, Managing Director, Data and Markets Directorate, Autorité des Marchés Financiers (AMF) – France
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Joep Knook, Senior Supervisor, Capital Markets, Autoriteit Financiële Markten (AFM) – Netherlands
Strategic priorities and Emerging Trends
Each regulator shared strategic updates from their respective organisations:
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The FCA outlined its new strategy - with a focus on growth – in particular its work freeing up primary markets; intervention and surveillance.
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The AFM emphasised the importance of international cooperation on AI, surveillance practices and suspicious transaction reporting (STORs).
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The AMF addressed retail investor protection, international crime networks and how market abuse is evolving through global regulatory arbitrage.
International Co-operation: more than Just Talk
The panel discussed how regulatory bodies are deepening intelligence sharing and aligning surveillance priorities across borders. From tackling organised crime to identifying suspicious trades, the importance of coordination between the FCA, AFM and AMF was clear.
“We do talk to each other. And in today’s world, we must.” – Joep Knook, AFM
Managing Emerging Risks: AI, Cybersecurity and Market Volatility
The conversation then shifted to the technologies disrupting compliance:
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AI-powered trading, self-learning algorithms and misinformation risks were flagged as areas of increasing focus.
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Regulators cautioned firms not to assume AI replaces accountability: the burden of governance remains firmly with the firm.
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Cybersecurity was noted as a growing area of concern, with increasing expectations for robust oversight of third-party technology vendors.
Closing Insights: Macro trends and Fragmentation
The final session, delivered by Hiten Patel and Archie Stebbings from Oliver Wyman, took a broader view to examine the geopolitical and economic forces reshaping global financial services.
They outlined six key trends driving regulatory fragmentation:
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US-first policy shifts – including tariffs, deregulation and financial consolidation
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Global policy responses – such as increased regional coordination and retaliation
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Investor retreat from US assets
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Capital market expansion initiatives in Europe and Asia
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Structural shifts in market infrastructure
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Growing focus on non-financial risk – including ESG, cyber and data integrity
Their message to compliance leaders: prepare for complexity and invest in strategic clarity to stay ahead in an increasingly fragmented global regulatory environment.
While AI can streamline many aspects of surveillance, organisations must invest in tools and processes that make these technologies explainable. This requires balancing advanced technologies with transparent frameworks that explain how AI-driven decisions are made. Only by ensuring AI is accountable can firms meet regulatory expectations and build trust within their organisations and among external stakeholders.
A Unique Setting, A Shared purpose
As guests enjoyed their eggs and exchanged insights beneath Westminster's historic arches, the sense of shared purpose was clear: the future of compliance depends on collaboration, innovation and agility.
At SteelEye, we’re proud to bring the industry together to explore these issues, and to provide tools that help firms adapt and thrive in an ever-evolving world.
We’d like to thank all our speakers, guests and partners who made this year’s Regs & Eggs our most impactful event yet.
See you next year!
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