[Ticker] City of London wants to set rules for EU

The City of London was so big a financial centre it should shape EU regulation in future, not the other way around, Catherine McGuinness, the head of the City of London Corporation, its historic governing body, told Reuters. "It's clear that we can't be rule-takers - we must be rule-makers," she said Wednesday. Recent capital flight by some traders to EU financial centres was "not at all catastrophic," she added.