Notes

Farnoush Farsiar claims Brexit benefited the UK financial market, despite the gloomy forecasts

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

http://www.checkcompany.co.uk/director/12203696/MS-FARNOUSH-FARSIAR-AIDI is unique in her insight due to her financial and wealth management experience.

In 2019, Farnoush penned two articles for BrexitCentral, and today it seems that many of her forecasts were right.

Recalling Farnoush's forecast regarding Brexit
Farnoush Farsiar believes that a departure from the European Union would liberate the British economy, and the finance market, from the burdensome regulations.

It would enable London to maximize its potential.

The Financial Services sector was difficult to function under MiFID II, the Financial Instruments Directive.

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Farsiar stated that London is home to the biggest European financial institutions and this has an influence on the economics.

The financial services industry in Britain could evolve to be the best version when it is freed.

British markets for financial services are likely to be affected by the UK's withdrawal from the European Union.
They'll become self-sufficient once more, and they won’t be able blame Brussels for anything.

The British should focus on reducing corporation tax rates and repealing EU legislation. It would stimulate foreign investors and help stabilize Britain's financial market.

What was the UK Market prediction pre-Brexit
A Deloitte study found that the UK attracted foreign direct investments more than any other European country from 2015 to the year 2018.

The study found that London was the most popular place to invest in international investment than New York.

It is one of the few truly international and global cities. And it's restricted by rules of the European Union which don't match.

One of these rules is applied in the stock market.

The efficiency of the entire market is affected when high-frequency trading is removed as well as financial services are blocked.

The lack of speed will result in regular trading, which can reduce the industry's excellence.

Instead, Brexit will allow Britain to offer investors lower alternatives.

London could not be competitive with the rest of the world due to anti-commerce policies. The industry warned repeatedly about the enormous costs for small and medium-sized companies.

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

Bailey described how the UK could be compared with other governments around the world.

The idea he had for "the future of financial conduct regulation" was to develop an "outcome-focused" as well as a "lower burden" strategy.

Brexit provides the UK the chance to increase its financial reach and take away EU restrictions.

These restrictions prevent the UK from having the lenient regulations it had previously and limit start-ups as well as businesses the ability to expand and be competitive in the international 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, "Leave it to our individual discretion... Bailey said, "The UK regulatory system will develop in a different way."

There was a serious fear around the UK's finance market
Competitive advantage is described as the ability to gain an edge in your field by doing the best in what you do.

As the regulations weighed down on them, the UK worried that the capital's financial system was being taken apart.

They'd be less appealing for international investors. Companies would flee to Paris or Frankfurt.

The main fear of the UK financial market was the possibility that the trading market would be shut down by the European Union.

Another reason to be concerned is that the cost of export and import will cost more.

Britain wants to be the center of financial services in the world.

Farnoush Farsiar post pandemic and in the middle of Brexit has a brighter outlook
Farnoush Farsiar was right to accurately predict the Brexit outcome.
The discussion about the British economy indicates that there is hope at the end of the tunnel.

Since December of 2020, 7,600 people were relocated to Europe as a result of Brexit. The result has been an increase in the number by approximately 100.

The latest figures are in line with estimates provided by PwC in April 2016 prior to the referendum. They estimated that as many as 100,000 jobs in the financial sector could be gone If Britain decided to vote Leave.

Despite covid being a major issue, the British stock market is rebounding.

The UK can compete with world's other countries without EU limitations. This opens the market to companies from overseas.

Businesses of all sizes are attracted to the British Stock Market, which has earned a international reputation as a market leader.

The European market is the only place where they've seen a decline that they've observed in the financial sector.

Most importantly, the trade in seafood and fish decreased which poses a challenge for British Islands.
It is important to note that despite having less trade with Europe the cost per capita did rise.

Farnoush Farsiar is correct. Brexit is a good thing for the financial industry. It also allowed London to fully realize its potential.


My Website: https://docs.house.gov/meetings/FA/FA14/20190626/109716/HHRG-116-FA14-Wstate-BromundT-20190626.pdf