London's finance sector needs a bespoke UK-EU trade agreement as the existing regulatory equivalence regimes do not provide the access that is needed, the chair of the City of London Corporation has said.

At an event at Haberdasher's Hall in the City last night, Catherine McGuinness spoke about her recent trips to the US, Israel and China, where there was concern voiced over the slow progress being made in Brexit negotiations and a "stark message that the status of London has diminished in the eyes of our partners and competitors".