At least 50 trade associations speak on behalf of the UK financial services industry, a number which many UK institutions consider to be far in excess of requirements, and costly to maintain.  The multiplicity of trade associations may also be a handicap for the City as it competes with more streamlined financial centres on the Continent.

However this CSFI report Who speaks for the City? finds that the scope for reducing this number is limited.  The proliferation of new markets and products, the increasing detail of regulation and the need for focused expertise rather than just large memberships all favour specialist trade bodies.