John Tattersall, the former chairman of PricewaterhouseCoopers' financial regulatory practice, is to be part of a new Conservative party working group to advise on changes to the financial regulatory system. Shadow chancellor George Osborne announced that the nine-strong group will also include Carol Sergeant, the chief risk officer for Lloyds Banking Group; Jonathan Herbert, a partner at Norton Rose; Simon McGuire, the ex-vice chairman of investment banking at UBS; Nick Prettejohn, ex-chief of Prudential's UK business; and Michael Foot, former FSA managing director. The group will be involved in talks held between the Conservatives and Financial Services Authority over Tory plans to overhaul the regulatory system, according to reports in the press today.