Dear <<First Name>>,
The Chair of Policy and Resources has continued to argue that the need to rule out a no-deal Brexit is critical. Parliament has voted to request an extension to Article 50 and we now hope the European Union will be pragmatic and agree to such a step in order to give time for a solution to be found. The news that UK clearing houses will temporarily retain
access to their European customers in the event of a no-deal is welcome. But cliff edge issues, including contract continuity and data transfer, remain a serious concern. We continue to be worried about SME readiness for no-deal, and are running an advertising campaign directing smaller firms to
advice and resources to help them prepare.
Boosting ties with priority overseas trading partners, the
Lord Mayor visited East Asia to promote the UK’s expertise in supporting fast evolving markets. We reinforced our existing strong links arising from the MOU between the City of London and Tokyo, furthering cooperation on fintech and asset management. In Hong Kong and South Korea he highlighted the UK’s strengths in innovative sectors - central to forging partnerships on green finance, fintech, asset management and servicing the Belt and Road. In Singapore key themes were cyber and the formation of a digital pathway between the two markets; and the opportunities in these areas will be explored at the Singapore anniversary conference at Guildhall in June.
Furthering the case for global regulatory coherence to smooth international trade, the Chair of Policy, in discussion with the Finance Minister in Dublin,
backed closer collaboration and establishment of a forum for regulatory dialogue post-Brexit.
Deepening the City’s partnership with other UK financial centres to promote a countrywide offer to international investors, the Lord Mayor met businesses and officials – including the Scottish Finance and Economy Secretary – in Edinburgh and Glasgow. Discussions centred on supporting more Scottish firms to grow their overseas trade.
The benefits of partnerships between UK financial services centres have also been core to the Chair of Policy’s discussions at the MIPIM property conference. We also launched our latest research that finds London has been voted by business leaders as the top destination to locate global teams and to innovate.
Locate, Create and Innovate explores how the rise of tech is transforming the business landscape for financial and professional services.
The unveiling of the
Fearless Girl statue, which the City Corporation helped State Street Global Advisors to bring to the Square Mile, was a platform for the Policy Chair to celebrate our commitment supporting the Women in Finance Charter and gender diversity within the sector.
The Lord Mayor’s Dragon Awards, which reward firms that achieve significant positive impact on their local community, are now open for applications. This year, the Lord Mayor’s Award for Digital Leadership will celebrate Lord Mayor Peter Estlin’s focus on championing and boosting digital skills in the UK through his ‘Shaping tomorrow’s City today’ theme.
Applications close on 16th April.
This month we also reached millions of Londoners with our campaign to encourage City businesses to pay all employees the London Living Wage of £10.55 per hour. Over 100 City financial and professional services companies have already committed to being London Living Wage accredited employers. But we know that more will join them - for more information visit the
Living Wage Foundation.
