City Corporation unveils essential guide for global businesses eyeing UK expansion

22 November 2024

The City of London Corporation has partnered with the global law firm Hogan Lovells to develop a straightforward introductory guide on how navigate the UK’s regulatory environment and seek authorisation by UK’s financial regulators to encourage financial services businesses to expand in the UK.

The guide, Expanding into the UK: A guide for international financial services firms, unpacks the main elements of the UK’s regulatory regime, offering insights into issues particular to banking, fintech, insurance and asset management firms. It also explains which regulator, the Financial Conduct Authority or Prudential Regulatory Authority, firms should obtain authorisation from and why.

 An approximate timeline of application process is also incorporated in the guide – aiming to give investors an outline of what to expect after applying.

 The UK attracted over £1bn of foreign direct investment last year, creating over 7,000 jobs. Many of these jobs were in the tech sector, the fastest growing job market in the Square Mile and this guide hopes to allow Britain’s financial and professional services maintain this momentum.

 The City of London Corporation welcomes new business and can support businesses in several different ways, including:

• Giving companies access to the City of London Corporation resources, including venue space for launches
• Helping facilitate access and to create opportunities with other business across the UK
• Providing real estate expertise with regards to finding office space
• Facilitating introductions to appropriate UK Government and policy leaders
• Providing market and policy insights

 

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