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Our latest comments, blogs, press releases and statements about the financial and related professional services industry can be found below.

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Anne Richard's speech at TheCityUK Annual Dinner 2023

Your Excellencies, my Lords, distinguished guests, Ladies and Gentlemen, I am delighted to welcome you all to our annual dinner. It’s wonderful to see everyone here tonight, and my thanks go to Miles and the team for organising such a great event.

New report finds regulatory authorisations processes are impacting UK competitiveness

A new industry-backed report [1] from TheCityUK finds that financial regulatory authorisations at the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) can be slow, inefficient and unpredictable. When they are, they undermine firms’ confidence in the regulators’ operational efficiency, create additional operating costs, and raise concerns about the long-term impact on UK competitiveness.

UK confirmed as the world’s leading net exporter of financial services

Despite increasing competition in global financial markets, the UK-based financial and related professional services industry’s trade surplus increased to £81bn ($110.9bn) in 2021, up from £79.6bn ($106.6bn) in 2020, according to TheCityUK’s annual ‘Key facts about the UK as an international financial centre’ report.

Five associations form industry alliance to guide the UK’s digital currency future

Five associations have come together to form a new alliance – the UK Forum for Digital Currencies (UK FDC) – which will celebrate innovation and collaboration across the payments industry. Members include the City of London Corporation, Digital Pound Foundation, The Payments Association, TheCityUK and UK Finance. The aim of the alliance is to develop better policies, practice and regulation around digital currencies.

TheCityUK responds to “Edinburgh Reforms” of UK financial services

Following today’s announcement by the Chancellor of a set of reforms to drive growth and competitiveness in the financial services sector, Miles Celic, Chief Executive Officer, TheCityUK, said: “Boosting the industry's competitiveness and securing the UK's position as a world-leading international financial centre is an investment in the nation’s success and in communities across the country.

The UK remains global hub for international legal services

New research from TheCityUK underlines the UK’s world-leading status as a centre for international legal services and dispute resolution, with revenues generated by the sector up 12.5% year on year to £41bn in 2021/22. The UK is the largest legal services market in Europe and second only to the US globally – a position bolstered by the international prestige of English common law.

CEO blog: November 2022

The run-in towards the end of the year has been very busy, with much activity delivered across the breadth of our work programme.

TheCityUK responds to the Autumn statement

Following today’s Autumn Statement by the Chancellor, Miles Celic, Chief Executive Officer, TheCityUK, said: “We welcome the clarity provided by the Chancellor in his Autumn Statement, particularly around reforms to Solvency II which will help to unlock investment from insurers for green energy and infrastructure projects across the UK.