Notes

Farnoush Farsiar claims Brexit has been beneficial to the UK market in the financial sector despite bleak forecasts

Farnoush Farsiar Former senior director at Emirates NBD. He is also the founder of Plato Capital.

Her wealth of experience in wealth and finance has provided her with a an unrivalled perspective.

Farnoush has published two pieces on BrexitCentral in 2019. Today , it appears her predictions were right.

Revisiting Farnoush Farsiar's prediction on Brexit
Farnoush Farsiar holds the view that leaving Europe will allow the British economy to be free of unnecessary regulations.

It would allow London to fully realize its potential.

The Financial Services industry was not able to meet the requirements of MiFID II (Financial Instruments Directive) due to regulatory intrusion.

The ability to remain competitive is only possible if the rules are in place and flexible.

Farsiar said that, as London is the home of the world's biggest financial institutions in Europe It has a significant impact on the economic system.

The financial services industry in Britain could be transformed into the most effective version it can be if given the freedom to do so.

British markets for financial services are likely to be affected by Britain's exit of the European Union.
They'll be dependent again and they will not be able to blame Brussels any more.

The reduction of corporation tax must be the top priority. Also, it is essential to change EU legislation. It could also be a good way to encourage foreign investors to help stabilize the British financial system.

What was UK Market prediction before Brexit
A Deloitte study revealed that the UK attracted the most foreign direct investment than any other European country between the years 2015 between 2015 and 2018.

The report also found that London was more popular than New York for inward investments.

It is one of the few cities that truly are international. The European Union rules that do not correspond to it are used to tie it to.

Stock trading is a prime example of this rule.

Restricting high-frequency trading or other financial services reduces effectiveness across the entire market.

A high frequency trading system that is not fast enough speed can lead to frequent trading, which can reduce the level of excellence in the industry.

Instead, Brexit would give Britain lower options for investors.

The anti-commerce laws caused it to be difficult for London to stay lucrative as a competitor. Industry officials regularly warned of the massive costs for small and mid-sized businesses.

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

Bailey said that the UK could be compared to other nations around the world.

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

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

https://getbritainout.org/johnson-and-javid-are-only-part-of-the-brexit-recipe-for-the-citys-success/ are hindering the loose regulations that the UK used to have before and are hindering startups and businesses from growing and be competitive on the global market.

Brexit will allow tech hubs to remain in the blossoming cities of its main cities.

As expressed by Bailey, "left to our individual decisions... the UK regulatory system would develop in a slightly different manner."

There was significant concern about the UK's financial market
Competitive advantage, as in terms of economics is having an advantage over your rivals by having a strong understanding of your industry.

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

Thus, foreign investors won't be attracted by them and businesses will flee towards Paris or Frankfurt.

The most feared thing about the UK finance market was that the European Union would restrict the EU market from trading.

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

Britain is determined to remain the global financial center.

Farnoush Farsiar , post pandemic and right in the middle of Brexit has a brighter outlook
Farnoush Farsiar's predictions of Brexit were not far-fetched.
If you take a look at the British economy, there is a light at the end of the tunnel.

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

The numbers are in line with PwC's April 2016 estimates. They predicted that 100,000 financial jobs could be lost in the event of Britain choosing to vote Leave.

But, the stock market in Britain remains rising despite the covid's devastating effects.

With no "EU restrictions" the UK competes with the rest of the world and is open to more oversea companies.

Businesses of all sizes are coming to the British Stock Market, which enjoys a reputation for being a world leader.

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

The British Islands are facing a major problem because of the decrease in seafood consumption and fish trading.
Although it is important to note that because of the lower trade with Europe the cost of living did get higher.

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


Homepage: https://brexitcentral.com/author/farnoush-farsiar/