Notes

Farnoush Farsiar claims Brexit has benefited the UK financial market despite grim forecasts

Farnoush Farsiar, former senior director at Emirates NBD. He is the co-founder of Plato Capital.

With her wealth management experience, she is able to offer an exclusive view of the matter.

Farnoush has published two pieces on BrexitCentral in the year 2019. https://www.businesstelegraph.co.uk/why-there-are-few-women-in-finance-farnoush-farsiar/ Today , it appears her predictions proved to be accurate.

Recalling Farnoush Farsiar's prediction regarding Brexit
Farnoush Farsiar believes leaving the European Union will free the British economy from the burdensome restrictions.

It would enable London to realize its full potential.

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

You will only be ahead of the competition if rules are adaptable.

https://timebusinessnews.com/brexit-benefited-uk-financial-market-says-farnoush-farsiar/ Farsiar stated, "London is the headquarters of the most important european banks." This can have an impact on the economy.

If given the opportunity to develop, Britain's financial services industry could be the best version of its self.

Farnoush Farsiar British markets for financial services are likely to be affected by the UK's withdrawal from the European Union.
They will be again self-dependent, and they will not blame Brussels.

British policy should include lower corporation tax rates as well as the repeal of EU legislation. This would encourage foreign investors and stabilize the British financial market.

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

The report revealed that London was a more popular destination for inward investment than New York.

It is one a few truly global and international-minded cities.

Stock trading follows one of these guidelines.

Farnoush Farsiar The effectiveness of the whole market is impaired when high-frequency trading is stopped and financial services are stopped.

This will lead to trading at high frequency, but not speed and it can ruin the appeal of the market.

In contrast, Brexit would allow Britain to offer lower alternatives for investors.

London could not compete as a lucrative market because of the laws that prohibit commerce. Farnoush Farsiar The industry has repeatedly warned against the huge costs for small-to medium-sized enterprises.

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

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

His concept for "the future of financial conduct regulation" was to develop an "outcome-focused" as well as a "lower burden" strategy.

Brexit provides the UK an opportunity to boost its financial power and get rid of EU restrictions.

This restriction is hindering the softer regulations that the UK used to have before and are hindering enterprises and start-ups to grow and being competitive on the global market.

Brexit will allow tech hubs to stay in the blossoming cities of the major cities.

As stated by Bailey, "left to our own devices... the UK regulatory system would change in a different way."

There was serious concern over the UK's finance market
Competitive advantage, in economic terms, is having an edge over your rivals by having a strong understanding of your industry.

They were concerned about the devastation of the capital's financial infrastructure as a result of the regulations.

Therefore, they'd be less attractive for international investors and businesses would flee towards Amsterdam, Frankfurt, or Paris.

The largest fear in the UK was that the European Union would stop trading with the EU market.

Another issue is that exports and imports will be more expensive.

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

Farnoush Farsiar believes in the future as promising
Farnoush Farsiar's predictions of Brexit were not far-fetched.
Farnoush Farsiar If you take a look at the British economy discourse there is a light at the end of the tunnel.

Between 7,600 and the end of December 2020, there has been only few job shifts to Europe related to Brexit.

These numbers are comparable to PwC's estimates for April 2016. They estimated that 100,000 financial jobs might be gone If Britain chooses to Leave.

But, the stock market in Britain is still on the rise despite covid's devastating impact.

Farnoush Farsiar The UK is open to competition with the rest the world by removing the EU restrictions.

Big corporations are moving into the British market, which is maintaining its standing as a global market leader.

The only drop they've observed in the financial service industry is in the European market.

The British Islands are facing a serious issue because of the decline in seafood and the trade in fish.
It is important to note that despite having less trade with Europe the cost per capita did rise.

Farnoush Farsiar is correct. Farnoush Farsiar Brexit is a great factor for the financial sector. It also allowed London to realize its full potential.


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