City of London four of the eight wards accounted for 67% of the 'square mile' and held 86% of the population, and these were in fact similar to and named after four City of London wards: The City has a unique electoral system. Most of its voters are representatives of businesses and other bodies that occupy premises in the City. Its ancient wards have very unequal numbers of voters. In elections, both the businesses based in the City and the residents of the City vote. The City of London Corporation was not reformed by the Municipal Corporations Act 1835, because it had a
Economy of London firms, insurance companies and reinsurance markets. London is notable as a centre of international finance where foreign participants in financial markets come to deal with one another. It is also home to the Bank of England, the second oldest central bank in the world, and the European Banking Authority, although the latter is moving to Paris in March 2019 following the Brexit referendum of 2016. Other key institutions are Lloyd's of London for insurance, the Baltic Exchange for shipping. A second financial district has developed at Canary Wharf to the east of the City, which includes the global headquarters of