The City Livery Companies’ history may be traced back to the Middle Ages. They were originally set-up to ensure that traders operated to acceptable standards and that they sold goods of the correct quality. Other duties included the training of apprentices, controlling imports and the settings of wages.
The 110 Livery Companies, as of 2015, that make up the Corporation of London, continue to flourish today. They have adapted to the changed social and economic conditions of modern life, continuing to foster professional skills and acting as voices of reference within their respective industries. However, one of their more important duties is to be a meeting place for a community of peers.