TheCityUK

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TheCityUK is a private-sector association and industry lobby group promoting the financial and professional services industry of the United Kingdom (UK). The City refers to the City of London, one of the world's centres of banking, finance and markets. It supersedes both the International Financial Services London (IFSL) and UKTI's Financial Services Sector Advisory Board (FSSAB), which were incorporated into TheCityUK.

The association focuses on three main areas:

  • Overseas promotion - it promotes the UK overseas as a world class centre for financial and related professional services.
  • Domestic promotion - it encourages greater understanding of, and support for, the financial services industry in the UK.
  • Regulation and trade - it supports industry efforts to work with government and regulators, to ensure that regulatory developments and trade policy foster free and open markets for the UK's financial services industry.

It also conducts primary research among members, businesses and consumers about relevant financial and professional services issues and produces a range of authoritative economic reports on industry sectors, products, and key financial indicators.[1][2]

Liberalisation of Trade in Services (LOTIS) Committee[edit]

The Liberalisation of Trade in Services (LOTIS) Committee, is a working group within TheCityUK, established in 1981 to enable discussions on overseas trade with the UK Government.[3] It was founded under the chairmanship of Sir Malcolm Wilcox and is currently chaired by John Cooke;[4] Michael Palliser, Sir Derek Thomas, Sir Nicholas Bayne and Christopher Roberts [5] were previous chairmen.[3] Committee members represent Standard Chartered, British Bankers' Association, Lloyd's, Association of British Insurers, Law Society of England and Wales, Association for Financial Markets in Europe, TheCityUK, Institute of Chartered Accountants, Goldman Sachs, JP Morgan, Standard Life, HSBC, Thomson Reuters, BNP Paribas, and Prudential. Meetings are attended by representatives from HM Treasury, Department of Business, Innovation and Skills, and Foreign and Commonwealth Office.[6] A separate High Level LOTIS Working group was established in 1998 and was later chaired by Leon Brittan.[7][8]

The LOTIS Committee formed a separate working group for discussions specific to the Transatlantic Trade and Investment Partnership. The TTIP Working Group consists of representatives from Thomson Reuters, The Law Society, JP Morgan, HSBC, Goldman Sachs, IUA, Lloyd's, Deloitte, Association for Financial Markets in Europe, Standard Chartered, and TheCityUK.[9] Meetings are attended by representatives from HM Treasury and Department of Business, Innovation and Skills.[9]

References[edit]

  1. ^ "Job for the brave is yet to be filled as TheCityUK recruits some fresh faces"
  2. ^ "TheCityUK picks its man to rejuvenate financial services"
  3. ^ a b "30 years of the LOTIS Committee". TheCityUK. Retrieved 8 September 2014. 
  4. ^ "Global Services Industries Highlight TISA Importance". Retrieved 8 September 2014. 
  5. ^ "World Services Congress Hong Kong 2001". Hong Kong General Chamber of Commerce. Retrieved 8 September 2014. 
  6. ^ "LOTIS Minutes January 2014". What Do They Know?. Retrieved 8 September 2014. 
  7. ^ "LOTIS Committee Linking up GATS and Corporate Political Power". Corporate Watch. Retrieved 8 September 2014. 
  8. ^ "The WTO's Hidden Agenda". Retrieved 8 September 2014. 
  9. ^ a b "LOTIS Minutes June 2014". What Do They Know?. Retrieved 8 September 2014. 

External links[edit]