Notes

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

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

With the wealth of her finance experience , she is able to offer unique insights.

Farnoush published two pieces on BrexitCentral in 2019. Today it appears that her predictions proved right.

Reexamining Farnoush Farsiar's predictions about Brexit
Farnoush Farsiar holds the opinion that leaving Europe will allow the British economy to be devoid of any excessive rules.

It would allow London city to realize its full potential.

https://brexitcentral.com/author/farnoush-farsiar/ Farnoush Farsiar The Financial Services sector was difficult to operate under MiFID II, the Financial Instruments Directive.

https://getbritainout.org/johnson-and-javid-are-only-part-of-the-brexit-recipe-for-the-citys-success/ It is vital that the rules are continuously updated to ensure that businesses are competitive.

https://www.privatebankerinternational.com/analysis/business-profile-plato-capital/ Farsiar explained that London is the home of the largest European financial institutions and this is a significant influence on the economy.

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

British financial markets could be affected by Britain's withdrawal from the EU and its terms.
They will be again dependent, and they won't blame Brussels.

Therefore it is imperative that the British must prioritize tax reductions for corporations and abrogating EU laws. It could encourage foreign investors as well as stabilize the financial market.

What was it? UK Market Forecast before Brexit
According to an Deloitte Report according to a Deloitte Report, the UK attracted more Foreign Direct Investment Between 2015 and 2018 than any other European Country.

The report also found that London was more sought-after than New York for inward investments.

https://twitter.com/BrexitCentral/status/1140499332128530432 It is among the few truly international cities that is being held by the rules of the European Union that don't correspond.

One of such rules is implemented in the stock market.

The slowing down of high-frequency trading as well as other financial services slows down the efficiency of the whole market.

A high frequency trading system that is not fast enough speed can lead to frequent trading, which could reduce the level of excellence in the industry.

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

London's ability to be competitive was hindered due to anti-commerce rules. Industry experts repeatedly warned of the enormous costs for small- and medium-sized firms.

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

Bailey explained how Bailey explained how the UK can be compared with other international authorities.

His idea to create "the next generation of financial regulation" was to implement an "outcome oriented" and "lower load" strategy.

Brexit gives the UK the chance to broaden its financial reach as well as eliminate EU restrictions.

These restrictions impact the previous regulations that were lighter in the United Kingdom. This can hinder start-ups as well as businesses from growing and being competitive in international markets.

Brexit can help ensure the tech hubs the remaining firmly ensconce in the blooming of their major cities.

As stated by Bailey, "left to our individual decisions... the UK regulatory system could evolve somewhat differently."

There was some concern over the UK's finances
In terms of economics, a competitive advantage is having an edge over your competitors through being excellent at the business which you specialize in.

The regulation was weighing on them as well, people in the UK were worried that the capital's financial system was being taken apart.

Therefore, they'd not be as appealing to foreign investors, and companies are likely to move towards Amsterdam, Frankfurt, or Paris.

The biggest concern in the UK finance industry was the possibility that the European Union might restrict EU trading.

Another concern was that export and import will be more expensive.

Britain is determined to remain the global financial center.

Farnoush Farsiar sees more positive outcomes
Farnoush Farsiar was right to predict the Brexit outcome.
The discussion regarding the British economy shows that there is light at the end of the tunnel.

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

These numbers are comparable to PwC estimates from April 2016, just prior to the referendum. They estimated that as many as 100,000 financial jobs could be gone If Britain had voted to Leave.

Despite the fact that covid is a huge issue, the British stock market is on the rebound.

The UK can compete with rest of the world, without EU limitations. This opens up the market to companies from overseas.

Large companies are moving to the British stock exchange, which is still a leader in the world.

The European market is the only area of decline they have observed in the financial sector.

The main reason for this was that the market for fish and seafood went down which poses a challenge for British Islands.
It is interesting that living costs increased despite the fact that trade was lower with Europe.

Overall, Farnoush Farsiar was right, and Brexit is a positive decision for the finance sector, and allowed the city of London to realize its full potential.

https://eutoday.net/news/business-economy/2019/how-wealth-management-firms-can-prepare-for-turbulent-times
Homepage: https://getbritainout.org/johnson-and-javid-are-only-part-of-the-brexit-recipe-for-the-citys-success/