Export English law, City told

Tim Wallace
Follow Tim
London will keep its place as the world’s top financial centre only if it worked with new hubs, the head of campaign group TheCityUK said yesterday.

If the UK exported laws to centres such as Dubai and Shanghai, it could further its lead, Chris Cummings said.

“Key for any aspiring financial centre is its approach to rule of law. Half the world’s commercial contracts are written in English law,” he told City A.M.

“It is in the UK’s interest to partner with emerging centres, to stay relevant.”