Notes

Farnoush Farsiar asserts that Brexit has been beneficial to the UK financial sector despite dire predictions

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

With her expertise in finance and wealth management She has developed a unique view of the subject.

Farnoush wrote two pieces on BrexitCentral in 2019. It appears today that her predictions proved correct.

Revisiting what Farnoush Fassiar predicted about Brexit
Farnoush Farsiar believes that leaving the European Union will free the British economy from the burdensome restrictions.

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

Financial sector activities under MiFID II (Financial Instruments Directive), were made difficult because of regulatory intrusion.

Only dynamic regulations can guarantee that you are competitive.

Farsiar stated that, since London is the headquarters of the world's largest banks in Europe It has a significant impact on the world economy.

If given the opportunity to develop, Britain's financial services industry could become the best version of its self.

British financial markets may be affected by Britain’s exit from EU and its conditions.
They'll be dependent again and they won't be able to blame Brussels anymore.

Thus, the British should prioritise tax reductions for businesses and abrogating EU laws. This would encourage foreign investors and stabilize Britain's financial market.

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

In addition, the report revealed that London beat New York as the most popular city for inward investment.

It is one of few truly international cities. https://www.abcmoney.co.uk/2022/04/14/farnoush-farsiar-about-challenges-woman-business-leaders-face/ The European Union rules that do not align with the city's rules are used to tie it to.

One of these rules is utilized in the stock market.

Farnoush Farsiar The effectiveness of the whole market is diminished when high-frequency trading stopped as well as financial services are stopped.

This is high frequency trading with a slow rate that will decrease the quality of the market.

In contrast, Brexit would allow Britain to offer lower alternatives for investors.

The measures against commerce made it difficult for London to remain profitable as a competitor. Industry representatives repeatedly warned of the immense costs for small and mid-sized firms.

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

Bailey explained that Bailey said that UK can be compared to other countries around the world.

The idea behind his idea of "future of financial conduct regulations" was to develop an "outcome specific" and "lower cost" method.

Brexit offers the UK the chance to amplify the impact of its global financial impacts and to avoid any restrictions by the EU.

These restrictions have hindered the previous regulations that were more relaxed in the UK. They also stop startups from expanding and becoming globally competitive.

Brexit will ensure that technology hubs are securely entangled in the blossoming of their cities.

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

There was a serious concern about the UK's financial market
A competitive advantage in terms of economics is the ability to gain an advantage over your competitors by being skilled in the industry you specialize.

The UK was worried over the degeneration of the capital's financial infrastructure due to the regulations.

International investors might consider them less attractive and they would move to Paris, Frankfurt or Amsterdam.

The biggest fear in the UK finance market was that the European Union would restrict the EU market from trading.

Another concern was that export and import is likely to become more expensive.

Therefore, Britain wants to stay at the top of the global centre for financial services.

Farnoush Farsiar Farnoush Farsiar believes in the future as more promising
Farnoush Farsiar's predictions about Brexit were not too far-fetched.
There is some hope for the British economy when you look at the debate.

Between 7,600 and 2020 the number of jobs impacted by Brexit relocated to Europe has declined by about a hundred.

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

But, the stock market in Britain remains on the rise despite covid's catastrophic effects.

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

Many large corporations are now considering joining the British market that continue to be regarded as a world-leader.

The only drop they've noticed in the financial service industry is in the European market.

Mainly the trade of seafood and fish was reduced which poses a challenge for British Islands.
It is interesting to note that, due to the decrease in trade between Europe however, the cost of living actually went higher.

Farnoush Farsiar was correct, and Brexit is a positive step for the financial industry. Farnoush Farsiar It allowed London to unleash its full potential.


Website: https://eutoday.net/news/business-economy/2019/how-wealth-management-firms-can-prepare-for-turbulent-times