Notes

Farnoush Farsiar asserts that Brexit has benefitted the UK financial sector, despite negative predictions.

Farnoush Farsiar was previously the director of senior positions at Emirates NBD and is passionately involved with Plato Capital.

With her wealth management expertise, she has a unique view of the matter.

Farnoush has written two pieces for BrexitCentral in 2019 , and it appears that a lot of her predictions have been correct.

Re-visiting Farnoush's prediction regarding Brexit
Farnoush Farsiar is of the opinion that a departure from Europe would let the British economy to be devoid of any unnecessary rules.

This would enable the city of London to unleash its full potential.

Financial services sector was unable to function under MiFID II (Financial Instruments Directive) because of regulatory intrusion.

It is essential that rules are continuously updated to ensure competitiveness.

Farsiar said that London, the capital of Europe's largest financial institutions is a significant influence on the economy.

If given the opportunity to expand, Britain's banking services industry could be the most perfect version of its self.

British market for financial services will be affected by Britain's exit from the European Union and its conditions.
They'll be self-dependent and won't have the ability to blame Brussels.

The British should prioritize lowering corporation taxes and repealing EU legislation. This would increase foreign investment and stabilize the British market.

What was the UK Market prediction pre-Brexit
According to an Deloitte report according to a Deloitte report, the UK was the most popular destination for Foreign Direct Investment between 2015 and 2018, than any other European country.

Additionally, the report highlighted London surpassing New York as the most desired city to invest in.

It is one of the few truly interconnected and global cities. But https://www.kickstarter.com/profile/773751146/about is taken hostage by the European Union's rules, which aren't in accordance with.

Stock trading follows one of these rules.

The effectiveness of the whole market is affected when high-frequency trading is removed and financial services are blocked.

This is high frequency trading at a slow pace which will lower the industry's quality.

In the end, Brexit will allow Britain to provide investors with less options.

The measures against commerce caused it to be difficult for London to remain profitable as a competition. Experts in the industry repeatedly warned about the huge costs that small and medium-sized companies would be forced to pay.

https://lexsrv3.nlm.nih.gov/fdse/search/search.pl?match=0&realm=all&terms=https://eutoday.net/news/business-economy/2019/how-wealth-management-firms-can-prepare-for-turbulent-times , the CEO of the Financial Conduct Authority, saw "the future of regulation of financial conduct".

Bailey explained that Britain can be compared to other authorities around the world.

https://genius.com/farnoush-farsiar4abb for the future of regulation of financial conduct was to create an "outcome-focused", and "lower burden" method.

Brexit is the UK's opportunity to increase its financial impact globally and to avoid any limitations by the EU.

These restrictions hinder the lighter regulations the UK used to have before and are hindering enterprises and start-ups to grow and be competitive on the global market.

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

Bailey stated that "if we did it our way... Bailey stated that the UK regulatory systems would evolve somewhat differently."

There was serious fear about the UK’s finance market
A competitive advantage, in terms of money, is the ability to get an advantage over your rivals by being skilled in the field you are specialized in.

With the regulation weighing down on them and the UK worried that the capital's financial system was being disassembled.

They would therefore be less attractive to international investors and businesses would move to Paris, Frankfurt, or Amsterdam.

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

Another concern is that exports and imports is more expensive.

Britain would like to take the top spot in the field of financial services.

Farnoush Farsiar has more positive outcomes
Farnoush Farsiar was right to accurately predict the Brexit outcome.
In the debate about the British economy, there's some light at the end of the tunnel.

Since December of 2020, 7,600 people were relocated to Europe due to Brexit. This has seen a drop in the number of people who have been relocated by around 100.

These latest figures compare to estimates provided by PwC in April of 2016 prior to the referendum. https://devpost.com/hauserthiesen313 predicted that the United Kingdom could lose more than 100,000 jobs in finance should it vote Leave.

Despite the fact that covid is a huge issue, the UK's stock market is on the rebound.

The UK is open to competition with rest of the world after removing the EU restrictions.

Many large companies are now moving to the British stock exchange, which remains a leader in the world.

The European market is their sole real weakness in the financial services sector.

The main reason for this is that the quantity of trade in fish and seafood has declined, which poses an issue for British Islands.
It is important to note that despite the fact that we trade less with Europe the cost per capita increased.

Farnoush Farsiar had a point. Brexit was a good choice for the financial sector and allowed London's potential to blossom again.


Website: https://lexsrv3.nlm.nih.gov/fdse/search/search.pl?match=0&realm=all&terms=https://eutoday.net/news/business-economy/2019/how-wealth-management-firms-can-prepare-for-turbulent-times