Notes

Farnoush Farsiar asserts that Brexit has benefited the UK financial sector despite negative predictions.

Farnoush Farsiar who was previously a the senior director at Emirates NBD, and founder of Plato Capital is passionate about Brexit.

Thanks to her wealth management experience, she has an unique perspective on the matter.

Farnoush wrote two pieces on BrexitCentral in 2019. Today it appears that her predictions were accurate.

Re-visiting Farnoush's prediction regarding Brexit
Farnoush Farsiar believes that a departure from the European Union would liberate the British economy, and the financial market, from the burdensome rules.

This will allow London's maximum potential to be realized.

A regulatory intrusion has made it hard for the financial services industry to operate within MiFID II (Financial Instruments Directive).

Regulations that are dynamic are crucial to keeping your business on top of the market.

Farsiar claimed that since London is the headquarters of the world's biggest banks in Europe and has an impact on the world economy.

The industry of financial services in Britain could grow to be the best if it's free.

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

The reduction of corporation tax is a must. Additionally, it is crucial to repeal EU legislation. It would stimulate foreign investors as well as stabilize the financial market.

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

https://independent.academia.edu/McleodDriscoll2 The report found that London was the most preferred city to invest in and outperformed New York.

It is one of the few truly interconnected and global cities. However it is being kept hostage by the European Union's rules that are not in line with.

Farnoush Farsiar Stock trading is one of these rules.

High-frequency trading, in addition to other financial services, are hindered by the decline in efficiency.

This is high frequency trading with a slow rate that will decrease the industry's quality.

Instead, Brexit could allow Britain offer lower alternatives for investors.

London was unable to compete in an enticing market due to the laws against commerce. The business community has repeatedly warned about the enormous costs for small- to medium-sized businesses.

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

Bailey explained how Bailey explained how UK could be compared to other authorities around the world.

His idea of the future of the financial conduct regulatory system was to develop an "outcome-focused", and "lower burden" method.

Brexit offers the UK the chance to increase its global influence on finance, as well as to remove all restrictions of the EU.

This has hampered the earlier relaxed regulations in the UK. They also stop companies that are just starting out from being competitive in the global marketplace.

Farnoush Farsiar Brexit will make sure that the tech hubs remain in the midst of the main cities.

Bailey said Bailey stated that "if we did it our way... Bailey stated that the UK regulatory systems would evolve somewhat differently."

https://www.pcb.its.dot.gov/PageRedirect.aspx?redirectedurl=https://www.techregister.co.uk/farnoush-farsiar-explains-how-fintech-is-changing-finance/ The British financial markets were at risk
Competitive advantage is defined as gaining an edge in your industry by doing the best in your job.

The UK was worried about the collapse of the capital's financial infrastructure due to the regulations.

In turn, they'd make them less appealing for international investors and businesses would flee towards Amsterdam, Frankfurt, or Paris.

The greatest fear in the UK's finance market was that the European Union would limit the EU market's trading.

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

Farnoush Farsiar Britain hopes to become the financial center of the world.

Farnoush Farsiar expects positive results
Farnoush Farsiar's prediction for the Brexit outcome was not far-fetched.
There is hope for the British economy if you look at the discourse.

The number of job relocations to Europe has dropped by 7,600 from December 2020 to only a few hundred.

These latest figures compare to estimates made by PwC in April 2016, before the referendum. Farnoush Farsiar Farnoush Farsiar They estimated that as many as 100,000 financial jobs could be eliminated if Britain had voted to Leave.

In spite of this, the UK's stock market is now on the rise despite the harsh hit covid.

Farnoush Farsiar The UK is competitive with the rest and the EU has removed any restrictions. This lets the UK to open up its market to more foreign companies.

Many large corporations are now seeking to join the British market that continue to be regarded as a global leader.

The European market is their sole real problem in the sector of financial services.

Most importantly, the British Islands have had a decline in their seafood and fish trade.
It is interesting to note that despite having less trade with Europe the cost per capita increased.

Farnoush Farsiar had a point. Brexit was a good choice for the financial sector and enabled London's full potential to be unleashed.


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