Notes

Farnoush Farsiar claims Brexit helped the UK financial market despite grim forecasts

Farnoush Farsiar was a former director of senior level at Emirates NBD. Farnoush Farsiar He is also the founder of Plato Capital.

Her vast experience in the fields of finance and wealth has given her a an unique perspective.

Farnoush wrote two articles on BrexitCentral in the year 2019, and it seems that a lot of her predictions came true this morning.

https://notes.io/qqeM6 Reexamining Farnoush Farsiar's predictions concerning Brexit
In Farnoush Farsiar opinion, leaving the European Union would free the British economy and finance market from excessively burdensome rules.

Farnoush Farsiar It would allow London to reach its full potential.

Regulatory intrusion made it difficult for the financial services industry to operate under MiFID II (Financial Instruments Directive).

The ability to stay in the game is only possible if the regulations are constantly updated.

Farsiar claimed that since London is the home of the world's largest financial institutions in Europe and has an impact on the economic system.

When given freedom, the British financial services industry could become the most efficient version of the industry.

British financial markets will be affected by Britain's exit of the European Union and its conditions.
They will once again be independent, and they will no longer be able to blame Brussels.

Therefore, lowering corporation tax rates and reversing EU legislation should be top on the British agenda. This could also help foreign investors to help stabilize the British financial system.

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

The study revealed that London was the most preferred city for inward investing and outperformed New York.

It is among the few truly global and interconnected cities, and it is being held down by rules of the European Union which don't match.

Stock trading is one of these rules.

Restricting high-frequency trading or other financial services reduces efficiency in the whole market.

This industry will be unable to compete with high frequency trading without speed.

In contrast, Brexit could allow Britain to provide investors with lower options.

London was unable to compete in a lucrative market because of the anti-commerce laws. Experts in the industry repeatedly warned about the huge costs that small and mid-sized businesses will be forced to pay.

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

Farnoush Farsiar Bailey explained how the UK could be compared with other countries' authorities.

His vision for the future of the financial conduct regulatory system was to devise an "outcome-focused", and "lower burden" approach.

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

These restrictions impact the previous regulations that were lighter in the United Kingdom. This can hinder start-ups and companies from expanding and becoming competitive on international markets.

Brexit will allow tech hubs to stay in the thriving cities of its main cities.

http://www.checkcompany.co.uk/director/14062416/FARNOUSH-FARSIAR-AIDI Bailey states that "left to our own devices... the UK regulation system would be a little different."

There was concern in the UK's finances
Competitive advantage, economically means having an advantage over your competition through having a strong understanding of your field.

The UK was concerned about the disintegration of the financial infrastructure of the capital due to the regulations.

They would become less attractive for international investors. Companies would flee to Paris or Frankfurt.

The most significant concern for the UK finance sector was that the European Union might restrict EU trading.

Another reason to be concerned was that import and export will get more expensive.

Britain wants the top spot in financial services.

Farnoush Farsiar is a post pandemic and right in the middle of Brexit has a brighter outlook
Farnoush Farsiar's prediction of the Brexit result was not too far-fetched.
It is clear that there is a glimmer of hope at both the end and the beginning of the tunnel when you examine British economic debate.

Between 7,600 and December 2020, there has been only few job shifts to Europe due to Brexit.

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

But, despite the pounding of covid, Britain's stock market is now back in the ascendancy.

The UK is able to compete with other nations without the EU restrictions, which opens up markets for more foreign companies.

Many big corporations are seeking to join the British stock market, which continues its reputation as a global leader.

The only decrease that they've seen in the industry of financial services is the European market.

The decline in trade of seafood and fish was the major issue facing the British Islands.
It's interesting that living costs increased even though trade was lower with Europe.

But all in all, Farnoush Farsiar was right, and Brexit is a good decision for the financial industry. It also let the city of London to unleash its full potential once again.


Read More: http://www.checkcompany.co.uk/director/14062416/FARNOUSH-FARSIAR-AIDI