The Centre for the Study of Financial Innovation is a forum for debate and research about the future of the international finance services sector.
City Debate 2017
“This House believes that the rest of the world more than makes up for the loss of Europe.”
Sincere thanks to all our speakers, our moderator and guests at the 2017 City Debate (in association with the Chartered Institute for Securities & Investment).
The motion - "This House believes that the rest of the world more than makes up for the loss of Europe" - was proposed by Helena Morrissey (Investment Association) and Alex Brummer (Daily Mail), opposed by Sylvie Goulard MEP and Hugo Dixon (InFacts).
Sentiment before the debate was 63 : 37 against the motion - and views in the audience remained fairly set despite the strong efforts of both camps. As our moderator, Angela Knight, brought the debate to a close, final tallies showed a marginal swing against the motion. The final score: 66% against, 34% in favour.
It is easy to be dazzled by China’s economic revolution and simply to assume that the economy will continue its progress, no matter what. However, even judging by the government’s own data, the situation is not as rosy as the Chinese Communist Party would have the world believe. Much of the discussion about China’s corporate debt burden has revolved around the urgency of the problem, with some predicting a crash, stagnation, or both. Meanwhile, others assume that the CCP’s track record means that nothing much will happen at all. Comparatively little has been said about how China might tackle its debt burden: this paper articulates one suggestion.
Reaching the poor: The intractable nature of financial exclusion in the UK
Despite the best efforts of successive governments, there is a serious problem of financial exclusion in the UK. More than a million adults do not have a bank account; 50% of households in the bottom half of the income distribution do not have home contents insurance; 2½ million use doorstep loans; more than 400,000 households use ‘Rent-to-Own’… And, of course, despite the (very significant) reforms introduced in 2014 and 2015, there is still a thriving, payday lending industry that addresses a real need for short-term credit – while, at the same time, often aggravating the problems that caused that need in the first place.
We believe this is the most comprehensive survey of what is going on in the battle against financial exclusion in the UK to have been published in recent years.
Getting Brussels Right: "Best Practice" for City firms in a post-referendum EU
In 2010, the CSFI published a report by a long-time (and well-respected) EU-watcher, Malcolm Levitt, looking into the problems that the UK financial services sector faced when dealing with the labyrinthine Brussels institutions. At the beginning of 2016, we decided to update this – using the services of our Brussels Fellow (on a career break from the FCO).
And then came the ‘Brexit’ referendum – which turned many preconceptions on their head and required our Fellow to reinterview many of those who had already given their time and their views.
That made our life more difficult – but it also made the report more important. How are we (that is, the UK, and more specifically the City of London) going to handle the Commission, the Council and the Parliament in the run-up to (and beyond) our exit? This report is an insider’s view.
Jane Fuller, CSFI co-director, sat down with Francesco Guerrera (Politico) and Sam Tymms (Promontory) to discuss whether there is a regulatory pendulum in banking - and in whose favour it is swinging.
Jane Fuller, CSFI co-director, discusses the Office of Tax Simplification's agenda for 2016 and beyond.
Christine Allison, CSFI Financial Inclusion Fellow, talks to Malcolm Brown, director of the Church's Mission & Public Affairs Department, about the role of the Church of England in providing socially responsible financial services.
Jane Fuller, co-director of the CSFI, talks to Brian Bartaby (CEO of Proplend) following the Centre's April 26 round-table on innovations in property finance.
Jane Fuller, co-director of the CSFI, talks to Tim Jones (former CEO of NEST) following the Centre's March 7 round-table on the Chancellor's priorities for pensions reform.
Sentiment before the debate: 37% believe the rest of the world "more than makes up for the loss of Europe"
The CSFI aims to bridge the gap between emerging financial innovators and established institutions through a programme of round-tables, presentations, product demos and workshops. Contact Harry Atkinson to find out more.
Financial World is the journal of The London Institute of Banking & Finance. Published six times per year in association with the CSFI, Financial World aims to bring together thought-provoking research and commentary on the health of the domestic and international financial services sector. The journal reaches around 20,000 financial services professionals, including all corporate and individual supporters of the CSFI.
Academic Expert Directory
The Academic Expert Directory is an online platform where academics and other specialists can connect with financial services practitioners seeking expert advice. The service is simple to use - and free.
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