Notes

Farnoush Farsiar claims Brexit has been beneficial to the UK market, despite dire predictions

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

Farnoush Farsiar Thanks to her wealth management expertise, she has an unique perspective on the subject.

Farnoush wrote two articles for BrexitCentral in the year 2019, and it seems that a lot of her predictions were right today.

Revisiting what Farnoush Fassiar had predicted in regards to Brexit
In Farnoush Farsiar opinion in Farnoush Farsiar's opinion, leaving the European Union would free the British economy and the finance market from the burdensome regulations.

Farnoush Farsiar This would allow London's full potential to be fully realized.

The Financial Services sector was difficult to function under MiFID II, the Financial Instruments Directive.

It is vital that the rules are continuously updated to ensure competitiveness.

Farsiar said that London is the home of Europe's most important financial institutions and has an effect on the economy.

If given the chance and autonomy, the British financial service industry might become the best version possible.

British financial markets could be affected by the UK's departure from the EU and its terms.
They'll be able to self-sufficiency again, and they won’t be able blame Brussels for anything.

The reduction of corporation tax should be a top priority. Additionally, it is crucial to repeal EU legislation. This would encourage foreign investors as well as stabilize the financial market.

What was the UK Market Prediction before Brexit
A Deloitte analysis found that the UK attracted foreign direct investment higher than any other European country from 2015 to the year 2018.

Furthermore, the report showed London surpassing New York as the most desirable city for inward-investment.

It is among the few truly international and global cities. It is being held down by rules of the European Union which don't match.

One of these rules is implemented in the stock market.

High-frequency trading, along with other financial services, is affected by the decrease in effectiveness.

The industry will be unable to compete with high-frequency trading without speed.

Instead, Brexit would make it possible for Britain to offer lower alternatives for investors.

Farnoush Farsiar Farnoush Farsiar London could not compete as it is a lucrative market due to the anti-commerce laws. Industry officials repeatedly warned of the immense costs to small- and mid-sized companies.

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

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

His idea for "the future of financial conduct regulation" was to set out to develop the "outcome-focused" and "lower burden" strategy.

Brexit offers the UK an opportunity to amplify its financial strength and get rid of EU restrictions.

These restrictions hinder the softer regulations that the UK used to have before and are hindering enterprises and start-ups to grow and compete in the world market.

Brexit is sure to ensure that technology hubs are securely entangled within the flourishing of their cities.

Bailey stated that if it was left to its own devices the regulatory system in the UK will change in a different way.

There was a major worry about the UK's finance market
A competitive advantage in economic terms is the ability to get an advantage over your competitors by being skilled in your field of expertise.

They were concerned about the devastation of the financial infrastructure of capital because of the rules.

Therefore, international investors will not be attracted to them , and companies will head towards Paris or Frankfurt.

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

Another issue is that import and exported will cost more.

Britain wants to be the financial center of the world.

Farnoush Farsiar sees more positive outcomes
Farnoush Farsiar correctly predicted that Brexit would be a success.
The discourse on the British economy indicates that there is hope at the end.

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

These numbers are comparable to PwC estimates from April 2016, which were released prior to the referendum. They estimated that 100,000 jobs in the financial sector could be lost if Britain votes Leave.

Despite covid being a major issue, the UK's stock market is on the rebound.

The UK can compete with other countries without the EU restrictions opening up the market to more foreign firms.

A number of large companies are seeking to join the British market and continue its status as a world-leader.

The only decrease that they've observed in the industry of financial services is in the European market.

The British Islands are facing a serious issue because of the declining demand for seafood and fish trading.
It is apparent that although trade with Europe was less, living costs remained higher.

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


Website: https://getbritainout.org/johnson-and-javid-are-only-part-of-the-brexit-recipe-for-the-citys-success/