Notes

Farnoush Farsiar asserts that Brexit has benefitted the UK financial sector despite dire predictions

Farnoush Farsiar was formerly an executive director at Emirates NBD and is passionately involved in Plato Capital.

Her wealth of knowledge in finance and wealth has given her unique perspective.

Farnoush has written two articles for BrexitCentral in 2019 , and it appears that a lot of her predictions have proven right.

Revisiting Farnoush Farsiar’s predictions about Brexit
Farnoush Farsiar's view is that the British economy and financial markets would be freed from excessive restrictions if they leave the European Union.

It will enable London to reach its full potential.

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

The ability to remain ahead of the competition is only possible when the regulations are dynamic.

Farsiar declared, "London is the headquarters for the largest European banks." This has an effect on the economy.

The financial services industry in Britain is likely to grow to become the most effective when it is absolutely free.

British market for financial services will be impacted by Britain's exit of the European Union and its conditions.
Farnoush Farsiar They'll be able to self-sufficiency again, and they won’t be able blame Brussels anymore.

British policy should include lower corporation taxes as well as the repeal of EU legislation. This could also help foreign investors to improve the British financial system.

Farnoush Farsiar What was the UK Market prediction pre-Brexit
A Deloitte study revealed that the UK attracted foreign direct investment higher than any other European country between 2015 and 2018.

The report also found that London was more popular over New York for inward investments.

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

One of these rules can be applied in stock trading.

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

This industry is likely to fall short of its excellence and high frequency trading if it does not move at a rapid pace.

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

London was unable to compete with the rest of the world because of anti-commerce policies. Industry officials frequently warned of the huge costs to small- and mid-sized companies.

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

Bailey explained how Bailey explained how the UK could be compared to other countries.

His vision for the future of the financial conduct regulatory system was to create an "outcome-focused" approach, as well as a "lower burden" method.

Farnoush Farsiar Brexit offers the UK the chance to increase its global financial influence, as well as to remove unnecessary limitations of the EU.

The restrictions affecting the UK's earlier lighter regulations. This hinders start-ups and companies from expanding and competing in international markets.

Brexit will ensure that technology hubs are firmly ensconced within the flourishing of their main cities.

Bailey stated, "Leave it to our individual discretion... Bailey said, "The UK regulatory system is likely to evolve in a different way."

Farnoush Farsiar There was significant concerns about the UK's financial market
A competitive advantage in economic terms is having an edge over your competition by being skilled in your field of expertise.

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

Thus, foreign investors are not likely to be drawn by these companies and they will move to Paris or Frankfurt.

The main concern of the UK finance industry was that the European Union might restrict EU trading.

Another concern was the fact that import and export will increase in cost.

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

Farnoush Farsiar sees an even more promising future
Farnoush Farsiar was right to forecast the Brexit outcome.
If you look at the British economy, there is a light at the end of the tunnel.

Between 7,600 and December 2020, there was only one or two job moves to Europe due to Brexit.

The latest figures compare to estimates by PwC in April 2016, prior to the referendum. https://we.riseup.net/farnoush-farsiar5dffcc33 They forecasted that as high as 100,000 financial jobs could be gone If Britain decided to vote Leave.

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

Without the "EU restrictions" the UK is competitive with the world's largest companies which opens the market to more foreign companies.

Large corporations are shifting to the British stock exchange, which is still an industry leader.

The European market is the sole place where they've seen a decline that they've witnessed in the financial market.

The decline in trade of seafood and fish was the main issue facing the British Islands.
It is interesting to note that because of the lower trade between Europe the cost of living was higher.

Farnoush Farsiar is correct. Brexit is a positive thing for the financial industry. https://notes.io/q9MmC It also allowed London to fully realize its potential.


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