Regulators in the UK and most regulators globally prefer to operate in an atmosphere of close and continuous communication with "no surprises". They typically place reliance on the quality of senior management, Compliance and Internal Audit and require an open exchange of information with a firm's senior team to gain comfort about the quality of the firm's processes and controls. A constructive relationship with regulators can assist in reducing regulatory supervision and reduce or avoid fines.

PHCC delivers a process called RegRelate, which outlines how to develop a constructive, communicative and structured relationship with a client's regulators. This involves senior management, business management and key control and risk functions working together to achieve the right environment for regulatory relations.