The idea that Britain might one day realign its financial regulations with the European Union is effectively off the table, according to the ambassador for London’s financial services sector. Speaking to Reuters, the City’s representative said the UK should resist tying its rulebook to any single jurisdiction and instead pursue a more independent, globally focused approach. Britain has “stepped back” from aligning with EU regulations, according to the financial district’s ambassador, reflecting a broader shift in post-Brexit strategy.
Nearly ten years after leaving the EU, the newly appointed Lady Mayor of London, Susan Langley, echoed this position. While she stressed that continued engagement with Brussels remains valuable—particularly in areas such as defence—she argued that Britain’s future lies in deeper cooperation with a wide range of countries that share democratic values and a respect for the rule of law.
Langley, who grew up in London’s traditionally working-class East End, recently made history as the third woman to hold the City’s centuries-old mayoral office and the first to formally adopt the title “Lady Mayor.” She acknowledged that the UK and Europe remain closely connected, especially through financial flows, but suggested that a return to shared regulation is unlikely.
“We are still very closely linked to Europe, and the movement of capital between us is significant,” she said. “But in terms of regulation, that chapter has passed. We’ve chosen a different direction.”
Discussion around closer regulatory cooperation has resurfaced in recent months after Prime Minister Keir Starmer signalled a more constructive tone towards Brussels. However, many voices within the City of London maintain that Brexit has given the UK the flexibility to design rules better suited to its own economic priorities, rather than mirroring those of the EU.
Challenging Myths About London
Ahead of the World Economic Forum in Davos, Langley said she intends to strongly promote London as a leading global financial centre and push back against what she described as misleading narratives about the city—particularly around crime. High-profile figures, including U.S. President Donald Trump, have previously depicted London as unsafe, claims Langley firmly rejected.
“That portrayal is simply not accurate,” she said, adding that London remains a secure and attractive place to live and work.
Having taken office in November, Langley also highlighted London’s opportunities for women, pointing to her own journey from the East End to chairing insurance firm Gallagher before assuming the mayoral role. While she supports the principle of diversity, she made clear that she does not favour mandatory regulatory targets to achieve it.
She acknowledged that harassment does exist within the workplace but argued that its scale is often exaggerated. Overall, Langley painted a picture of a city that is open, resilient and outward-looking—keen to move beyond the Brexit debate and position itself confidently on the global stage.
