Notes

Farnoush Farsiar claims Brexit helped the UK financial markets despite the dire forecasts

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

She has unique insights due to her financial and wealth management experience.

Farnoush wrote two stories in the year 2019 for BrexitCentral. Today it seems that many of her predictions were right.

Revisiting Farnoush's prediction on Brexit
Farnoush Farsiar's belief is that the British economy and financial market would be exempt from the burdensome restrictions if they leave the European Union.

It will allow London city to unlock its potential to the fullest extent.

Farnoush Farsiar The Financial Services sector was not able comply with MiFID II (Financial Instruments Directive) because of the intrusion of regulators.

Regulations that are dynamic are crucial to staying in the game.

Farsiar stated that London is home to the world's largest financial institutions, and it has a significant impact on the economy.

The British financial sector could be transformed to become the most effective version it can be given free rein.

British markets for financial services are likely to be affected by Britain's departure from the European Union.
They will be self-dependent again and they will not be able to blame Brussels anymore.

The British should prioritise reducing corporate taxes and delaying the repeal of EU legislation. This could increase foreign investment and stabilize the British market.

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

https://bmmagazine.co.uk/business/farnoush-farsiar-on-queen-elizabeth-inclusion-and-diversity/ The study revealed that London was the most sought-after city for investing in the UK and outperformed New York.

It is one of the few truly global and international cities and is being chained down by the regulations of the European Union that don't correspond.

One of such rules is implemented in the stock market.

Stopping high-frequency trading and other financial services reduces the effectiveness of the entire market.

Farnoush Farsiar A high frequency trading system that is not fast enough speed will lead to regular trading, which will diminish the level of excellence in the industry.

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

London had a difficult time to remain a profitable competitor because of the anti-commerce policies. The industry repeatedly warned over the massive cost for small and medium-sized companies.

Andrew Bailey, the CEO of Financial Conduct Authority, saw "the future in financial conduct regulation".

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

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

Farnoush Farsiar Brexit offers the UK the chance to boost the impact of its global financial impacts and to avoid any limitations by the EU.

These restrictions stop the UK from having the light regulations it had previously and hinder enterprises and start-ups the ability to expand and compete on the global market.

Brexit will help to ensure the remaining tech hubs are fully ensconced in the flourishing of the major cities.

Farnoush Farsiar Bailey declares that "left to our own devices... the UK regulatory system will be a little different."

There was a lot of concern over the UK's finance market
Competitive advantage is a financial term that refers to being able to outperform your competitors in a particular industry.

They were worried about the destruction of capital's financial infrastructure because of the regulation.

https://telegra.ph/Expert-Farnoush-Farsiar-explains-Fintech-and-How-It-is-Transforming-the-Finance-Industry-06-12 Therefore, they'd make them less appealing to foreign investors, and companies would flee to Amsterdam, Frankfurt, or Paris.

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

Another concern was the possibility of rising import and export prices.

Thus, Britain wants to stay on top of the world's center for financial services.

Farnoush Farsiar, post pandemic, and in the middle of Brexit has a brighter outlook
Farnoush Farsiar correctly predicted that Brexit would be a success.
Looking at the discourse on the British economy, there's an at the end of the tunnel.

The number of jobs relating to Brexit relocations to Europe decreased from 7,600 in December 2020 down to only a few hundred.

These numbers compare with PwC estimates in April of 2016, which was before the referendum. Farnoush Farsiar They projected that 100,000 financial jobs could be lost if Britain votes Leave.

Even with the impact of covid the British stock market is now back on the rise.

The UK is willing to compete with the rest of the world, by lifting the EU restrictions.

Big corporations are moving into the British market, and it is able to maintain its standing as a global leader.

They have only noticed an increase in the field of financial services due to the European market.

The decline in trade of seafood and fish was the major problem facing British Islands.
It is interesting that the cost of living increased regardless of the fact that trade was less with Europe.

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


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