City of London Corporation: Financial and Professional Services Highlights

Dear <<First Name>>,

The Chair of Policy and Resources has continued to press the urgency of securing a deal and a Brexit transition period. She warned that whilst UK and EU regulators have set out contingency plans for no-deal, smaller firms may be less well prepared. We are worried about the readiness of SMEs and have posted some guidance on our own website.

We have also been looking to the future. As part of his Shaping Tomorrow’s Cities Today agenda, the Lord Mayor addressed harnessing innovation for competitive business advantage in the fourth industrial revolution, speaking alongside the Chancellor of the Exchequer at Davos. Discussions centred on building skills for the 21st century; the digital economy and a broader Coalition for Digital Intelligence during high level engagement with international industry and political leaders.

Promoting the UK's competitive offer internationally, the Chair of Policy set out the forward looking approach that encourages regulators, Government and industry to work together during Davos talks. Meeting international regulators and Swiss financial services institutions in Basel and Zurich, she focused on deepening collaboration on international standards and regulation.

Continuing our support for global trade, there was an ambitious tone to the Lord Mayor’s talks on economic cooperation and the UK’s financial services offer during his visit to Kuwait and the United Arab Emirates. Meetings with senior government, industry and regulatory figures centred on key sectors for collaboration including fintech, insurance, sovereign wealth and green finance.

Showcasing the UK's expertise in regtech, the Chair of Policy launched new research that outlines the market opportunities and prospects for collaboration between the UK and India for the sector during a trip to Delhi and Mumbai. Discussions on the trip progressed knowledge sharing across sectors including fintech, green finance, re-insurance and non-performing assets.

Strengthening the City's links with centres of expertise across the UK, the Lord Mayor recognised Scotland as 'one of the most vibrant elements of the UK's financial services ecosystem.' His comments echoed Nicola Sturgeon, who spoke of the mutual benefits to the City and Scotland of close partnership. The First Minister was launching a prospectus for financial services investment in Scotland.