Recommendation 111

In its letter to the Prime Minister, the PRA stated that it could develop a proposal to create “a ‘concierge service’ to help foreign firms navigate the UK when thinking about locating new businesses here” 178 , but noted that it would need to liaise with the FCA and other stakeholders in thinking about how to approach this. 179 Sam Woods also told us that he had visited Singapore to learn how the MAS operates this service. 180 We asked the FCA whether it had spoken with the PRA on this issue. Nikhil Rathi said: “We did. We are talking about it. In my letter, there was a section on improving exports and inward investment, where I talked specifically about working with the Government, the City of London Corporation and other regulatory partners on how we can collectively promote the UK together. Sam used the word ‘concierge’, I think. I did not use that specific word in the letter”. 181