Notes

Farnoush Farsiar claims that Brexit has benefited the UK's financial market, despite the gloomy forecasts

Farnoush Farsiar was formerly a director of senior management at Emirates NBD, and founder of Plato Capital is passionate about Brexit.

With the wealth of her finance experience she can provide unique insight.

Farnoush wrote two stories in the year 2019 for BrexitCentral. Today it appears that a lot of her predictions were correct.

Revisiting what Farnoush Farsiar predicted about Brexit
In Farnoush Farsiar opinion in Farnoush Farsiar's opinion, leaving the European Union would free the British economy and finance market from the burdensome regulations.

It would enable London city to tap its full potential.

A regulatory intrusion has made it hard for the financial services sector to operate under MiFID II (Financial Instruments Directive).

It is essential that regulations evolve constantly to ensure competitiveness.

Farsiar said that, as London is the home of the world's biggest financial institutions in Europe and has an impact on the world economy.

The British financial services sector could be transformed into the most effective version it can be when given free rein.

British market for financial services will be affected by the UK's departure from the European Union and its conditions.
They will become self-sufficient again, and they won’t be able to blame Brussels any longer.

So, the British must prioritise tax cuts for businesses and the repeal of EU laws. This will boost foreign investment and help stabilize the British market.

What was the UK Market prediction pre-Brexit
According to a Deloitte Report that the UK Attracted More Foreign Direct Investment Between 2015 and 2018, than any other European Country.

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

It is among the few truly global and international cities and is being held by the regulations of the European Union that don't correspond.

The stock market is subject to one of these rules.

Financial services and trading that are high-frequency could be slowing down, which will affect the overall efficiency of the market.

High frequency trading that lacks speed will result in regular trading, which will diminish the quality of trading.

In contrast, Brexit would allow Britain to offer less options to investors.

The anti-commerce measures caused it to be difficult for London to sustain its position as a rival. The industry has repeatedly warned against the massive costs for small- to medium-sized enterprises.

Andrew Bailey, CEO of Financial Conduct Authority (FCA) was the person who conceived "the future financial conduct regulation".

Bailey explained that the UK could be compared to other countries around the globe.

His idea of "the future regulation of financial conduct" was that he would come up with an "outcome-focusedstrategy" and "lower-burden" method of regulation.

Brexit gives the UK the chance to increase its financial strength and get rid of EU restrictions.

This restriction is hindering the softer regulations that the UK had before and inhibit enterprises and start-ups to grow and be competitive on the global market.

Brexit is a positive step to ensure that the tech hubs are firmly embedded within the blooming of its major urban centers.

Bailey said that if allowed to operate on its own, the UK's regulatory system would change in a different way.

There was serious concerns about the UK's financial market
Competitive advantage is an economic word that means to be able to outperform your competitors in a particular industry.

The UK was worried over the degeneration of the capital's financial infrastructure due to the new regulations.

https://professionalparaplanner.co.uk/is-ai-a-threat-to-family-offices-and-wealth-managers/ makes them less appealing to investors from abroad as companies would be forced to relocate to Paris, Frankfurt, or Amsterdam.

The most significant fear in the UK financial market was that trading would be regulated by the European Union.

Another worry was the potential for rising import and export prices.

Britain hopes to become the centre of financial services around the globe.

Farnoush Farsiar predicts an even more promising future
Farnoush Farsiar correctly predicted that Brexit would be a great success.
If you take a look at the British economy discourse, there is a light at the end of the tunnel.

https://twitter.com/brexitcentral/status/1151733390485467136 of jobs relating to Brexit moves to Europe decreased from 7,600 in December 2020 to just a handful of hundred.

The latest figures are in line with estimates made by PwC in April of 2016 before the referendum. PwC predicted that the UK could lose up to 100,000 finance jobs if it votes Leave.

In spite of this, the UK's stock market is back on the up despite the sharp decline covid.

https://brexitregulations.net/tag/london/ is competitive with the rest and the EU has eliminated any limitations. This lets the UK to open up its markets to foreign firms.

The British stock market is attracting large corporations, which has helped maintain its status as a global leading market.

They've noticed only a decline in the financial services industry due to the European market.

The British Islands are facing a serious issue because of the declining demand for seafood and fish trading.
Though it is notable that due to the less trade with Europe the price of living actually went higher.

Overall, Farnoush Farsiar was right and Brexit is a good decision for the finance industry. It also allowed the city of London to unleash its full potential.


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