Lord Mayor calls for e-business hallmark

Plans to create a distinctive UK e-commerce hallmark for the City-based financial services industry moved a step forward this week with strong support from the Lord Mayor of London.

Spurred by the spread of Web-based commerce, the City of London is currently looking to create a "London Standard" hallmark portal through which financial services conforming to UK law and to City standards could be accessed. The aim is to prevent dilution of the traditional reputation of City institutions for quality and trustworthiness.

Speaking at a conference in the Guildhall organised by the International Electronic Publishing Research Centre, lord mayor Clive Martin said, "A London Standard would provide a mechanism to help the City of London enhance its brand identity as the world's pre-eminent financial centre in the virtual world."

The plan is now set to move onto the wider political agenda.