City of London Corporation City of London Corporation The City of London Corporation, officially and legally the Mayor and Commonalty and Citizens of the City of London, is the municipal governing body of the City of London, the historic centre of London and the location of much of the United Kingdom's financial sector. In 2006 the name was changed from Corporation of London to avoid confusion with the wider London local government, the Greater London Authority. The Corporation is probably the world's oldest continuously-elected local government authority. Both businesses and residents of the City, or "Square Mile", are entitled to vote in elections, and
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