Notes

Farnoush Farsiar asserts that Brexit has benefitted the UK financial sector, despite the dire forecasts

Farnoush Farsiar is passionate about Brexit.

She has unique insight due to her financial and wealth management experience.

Farnoush published two pieces for BrexitCentral in 2019 and it seems that a lot of her predictions proved correct this morning.

Revisiting the things Farnoush Fassiar predicted about Brexit
Farnoush Farsiar believes that a departure from the European Union will free the British economy from the burdensome rules.

It will allow London to fully realize its potential.

Financial services sector found it difficult to operate under MiFID II, the Financial Instruments Directive.

It is essential that regulations evolve constantly to ensure competitiveness.

Farsiar stated that London is home to the largest European financial institutions and that this has an impact on the economy.

The industry of financial services in Britain is likely to grow to become the best when it is completely free.

British market for financial services will be impacted by the UK's departure from the European Union and its conditions.
They'll be able to self-sufficiency again and won't be able to blame Brussels anymore.

British policy should include lower corporation tax rates and the removal of EU legislation. Therefore, it will encourage foreign investors and stabilize the British financial market.

What was the UK Market Prediction before Brexit
According to an Deloitte report that the UK attracted the highest amount of Foreign Direct Investment between 2015 and 2018, than any other European country.

Additionally, the report highlighted London surpassing New York as the most desirable city for inward-investment.

It is one of few truly international cities. It is one of the few cities that truly international. European Union rules that do not match with it are used to hold the city.

Stock trading is an illustration of this principle.

High-frequency trading and financial services could be slowing down in the process, which can reduce the overall effectiveness of the market.

This will lead to high frequency trading but not speed , and it takes away the beauty of the market.

In contrast, Brexit would give Britain less investment options.

https://eutoday.net/news/business-economy/2019/how-wealth-management-firms-can-prepare-for-turbulent-times had a difficult time to maintain its position as a viable competitor due to the anti-commerce measures. Experts in the industry repeatedly warned about the cost-intensive costs small and medium-sized businesses would have to bear.

Andrew Bailey, CEO of Financial Conduct Authority (FCA) has envisioned "the future financial conduct regulation".

Bailey explained how the UK can be compared to other governments around the world.

His vision of "the future regulation of financial conduct" was to create an "outcome-focused” and "lower-burden" approach.

Brexit is the UK's chance to increase its global financial influence as well as avoid any unjustified restrictions from the EU.

These restrictions stop the UK from having the lenient regulations that it used to have and hamper start-ups and businesses the ability to expand and compete on the international market.

Brexit is a positive step to ensure that the tech hubs will remain in the blossoming of the major urban centers.

As expressed by Bailey, "left to our own devices... the UK regulatory system will develop in a slightly different manner."

There was a lot of concern about the UK's financial market
Competitive advantage is an economic term that refers to being able to outperform your competitors in a particular industry.

The regulation was weighing on them, the UK were worried that the financial infrastructure of the capital was being taken apart.

International investors would find them less appealing and they would move to Paris, Frankfurt or Amsterdam.

The biggest fear for the UK was that the European Union would stop trading through the EU market.

https://getbritainout.org/johnson-and-javid-are-only-part-of-the-brexit-recipe-for-the-citys-success/ was the possibility of higher import and export costs.

Britain is determined to remain the world's financial hub.

Farnoush Farsiar, post pandemic and right in the middle of Brexit has a brighter outlook
Farnoush Farsiar 's prediction for the Brexit result was not too far-fetched.
It is clear that there is a light at both the end and the start of the tunnel when you look at British economic debate.

Between 7,600 and 2020 the number of Brexit-related job relocations to Europe has declined by about a hundred.

The latest figures compare to estimates by PwC in April 2016, before the referendum. They forecast that the UK could lose more than 100,000 jobs in finance should it vote Leave.

However, even with the pounding of covid the British stock market is back up.

The UK is able to compete with other countries , without the EU restrictions and opens markets for more foreign businesses.

Large firms are making their way to the British market, which is maintaining its standing as a global market leader.

The only decrease that they've observed in the industry of financial services is in the European market.

The primary reason is that the quantity of seafood and fish trade has decreased, which can be an issue for British Islands.
It is not surprising that, despite lower trade with Europe as well as higher living expenses rising, the costs of living have increased.

Farnoush Farsiar is correct. Brexit is a positive factor for the financial sector. It also enabled London to unlock its full potential.


My Website: https://eutoday.net/news/business-economy/2019/how-wealth-management-firms-can-prepare-for-turbulent-times