Near most financial institutions in London, a strip club or "gentlemen's club" is bound to be nearby.

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While some London traders say sex is an integral part of the business culture, lawsuits and allegations have caused embarrassment to several institutions, the Sunday Telegraph reported.

The U.S. bank Morgan Stanley recently fired four employees after they took clients to a strip club, and another U.S. bank, JPMorgan, e-mailed staff warning them of severe penalties if they indulge in visits to strip clubs.

London club owner Peter Stringfellow said the men of finance work hard under great pressure and when they finish a multimillion-dollar deal they're not going to go to McDonald's and be asleep at 10 p.m.

"They want to take their client somewhere they can enjoy an excellent meal in the restaurant, drink fine wine and look at the beautiful girls," said Stringfellow.