[1] TheCityUK is often referred to as the industry's "most powerful"[2] or "most prominent"[3] lobbyists with close links to the UK Government and to policymakers in Brussels and Washington.

This body would be tasked with promoting London’s financial services sector overseas, anticipating strategically important trends and highlighting to the domestic audience the industry’s contribution to the UK.

[7] The report also recommended the group should have a ‘formal link’ to a forum, led by government, which would focus on strategic issues relating to the financial industry.

[8] The report also led to the founding of Financial Services Trade and Investment Board, a partnership body sitting between the UK government and industry.

[12] The IRSG is jointly run by TheCityUK and the City of London Corporation to promote sustainable economic growth and an international framework that facilitates open and competitive capital markets globally[8] Its role includes identifying strategic issues where a cross-sectoral position can add value to existing industry views.

It also it oversees the work and direction of TheCityUK's public affairs programme, including its engagement with the devolved administrations of the UK’s regions and nations and in Westminster.