Notes

Farnoush Farsiar claims Brexit was a blessing to the UK market, despite dire forecasts

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

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

In the year 2019, Farnoush wrote two articles for BrexitCentral, and today it seems that many of her predictions were accurate.

Farnoush Farsiar Revisiting what Farnoush Fassiar had predicted in regards to Brexit
Farnoush Farsiar's view is that the British economy and financial market will be free of excessive restrictions if they leave the European Union.

It will enable London to fully realize its potential.

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

The need for dynamic regulations is essential to staying competitive.

Farsiar explained that London is the home of the largest European financial institutions and that this has an impact on the economy.

When given freedom and autonomy, the British financial service industry may become the most effective version that is possible.

British market for financial services will be affected by Britain's withdrawal of the European Union and its conditions.
They'll be self-dependent and won't be able to take on Brussels.

Farnoush Farsiar So lower corporation taxes and reversing EU legislation must be high on the British agenda. It could also be a good way to encourage foreign investors to improve the British financial system.

What was the UK Market prediction pre-Brexit
According to an Deloitte report, the UK attracted the highest amount of Foreign Direct Investment between 2015 and 2018, than any other European country.

https://www.metooo.io/u/6416c1876778e3393e06be13 In addition, the report revealed that London outshined New York as the most popular city for inward investment.

It is among the few truly international and global cities. And it's bound by the regulations of the European Union which don't match.

Stock trading follows one of these rules.

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

It will result in trading at high frequency, but not speed and it will take away the beauty of the business.

In contrast, Brexit would give Britain less options for investors.

London found it hard to maintain its position as a viable competitor because of the anti-commerce policies. The industry repeatedly warned over the enormous costs for small and medium-sized businesses.

Andrew Bailey (CEO of the Financial Conduct Authority) envisioned "the future of Financial Conduct Regulation".

Bailey explained how the UK could be equated with other governments around the world.

https://www.indiegogo.com/individuals/33031213/ The idea behind the "future of financial conduct regulations" was to develop an "outcome focused" and "lower cost" method.

Brexit offers the UK the chance to amplify its global financial influence and undue limitations from the EU.

The restrictions hinder the UK from having the loose regulations that it previously had and hinder enterprises and start-ups' ability to grow and compete on the international marketplace.

Brexit will make sure that the tech hubs remain firmly ensconced among the major cities.

Bailey declared, "Leave it to our own devices... The UK regulatory system will develop slightly differently."

There was concern in the UK's finances
A competitive advantage in economic terms is the ability to get an advantage over your competitors by being skilled in the field you are specialized in.

Farnoush Farsiar They were concerned about the destruction of capital's financial infrastructure because of the rules.

Farnoush Farsiar Thus, foreign investors are not likely to be drawn by them , and companies will head to Paris or Frankfurt.

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

Another reason to be concerned was the possibility that import and export is likely to become more expensive.

Britain would like to be the financial services center of the world.

Mid Brexit Farnoush Farsiar predicts the future as more optimistic
Farnoush Farsiar's predictions about Brexit were not too far-fetched.
Looking at the discourse on the British economy, there's a light at the end of the tunnel.

There have been a couple hundred more Brexit-related job relocations from Europe over 7,600 since December 2020.

The most recent figures match estimates by PwC in April of 2016 before the referendum. They estimated that as many as 100,000 jobs in the financial sector could be lost in the event that Britain chooses to Leave.

However, the British stock market is back on the up, despite the hard hit covid.

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

https://thegadgetflow.com/user/forrestborch464 A number of large companies are looking to join the British stock markets, which continues its reputation as a global leader.

They've noticed only a decline in the field of financial services because of the European market.

The primary reason is that the volume of seafood and fish trade has declined, which poses an issue for British Islands.
It's interesting that living costs increased even though trade was lower with Europe.

Farnoush Farsiar was absolutely right. Brexit is a great decision for finance, and has let London to fully realize its potential.


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