FCA holds meeting in Edinburgh to mark city’s growth – Daily Business

The Haymarket in Edinburgh is a mark of the city’s growth in financial services

The financial services watchdog will hold its annual public meeting in Edinburgh for the first time as it seeks to raise its profile in Scotland.

Financial Conduct Authority chair Ashley Alder will be opening new office space in the city today and confirmed the meeting will take place at the Assembly Rooms on 6 October.

It is part of a growing recognition of Edinburgh in the global financial centre rankings.

Mr Alder said: “Bringing our annual public meeting to Edinburgh for the first time is a deliberate step to strengthen our visibility and accountability right across the UK.

“Scotland is a critical part of the UK’s financial services sector, and as we continue to grow our presence here, we want to be closer to consumers and the firms we regulate.

“Holding the APM in Edinburgh reflects our focus on being more outward-facing, more engaged, and better connected to the markets we serve.”

Chris Cummings, chief executive of the Investment Association, said: “Edinburgh has a long heritage as a leading centre for financial services, including investment management, and it’s great to see that recognised as the city hosts the FCA’s annual public meeting.

“This is the first time the meeting has been held outside London, underlining both Edinburgh’s importance to the financial services sector and the FCA’s role as a UK-wide regulator.”

A study last year found that Scotland had further strengthened its position as a top European financial and related professional services hub, supporting more than 150,000 people.

Industry body TheCityUK said the sector contributed £17.7 billion to the national economy – 10.5 per cent of Scotland’s gross value added (GVA) – in 2023, based on the latest available data. Some 151,000 people are employed in banking, financial and related professional services in Scotland, according to the organisation’s report.

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