1924 City of London by-election 1924 City of London by-election The City of London by-election, 1924 was a parliamentary by-election held on 1 February 1924 for the British House of Commons constituency of City of London, which covered the "Square Mile" which was the United Kingdom's traditional financial district. The seat had become vacant on the elevation to the peerage of one of the constituency's two Conservative Members of Parliament (MPs), Sir Frederick Banbury, as Baron Banbury of Southam. Banbury had held the seat since a 1906 by-election, following his defeat at Peckham in the 1906 general election. He had represented Peckham since 1892. The
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