Notes

Farnoush Farsiar claims Brexit has helped the UK market, despite dire forecasts

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

Thanks to her wealth management expertise, she has an exclusive view of the subject.

Farnoush has written two articles for BrexitCentral in the year 2019 and it appears that many of her predictions have been right.

Re-visiting Farnoush's prediction regarding Brexit
Farnoush Farsiar believes leaving the European Union will free the British economy from the burdensome regulations.

It would enable London city to unlock its full potential.

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

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

Farsiar claimed that since London is the headquarters of the world's largest financial institutions in Europe, it influences the economic system.

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

British financial markets could be affected by Britain's withdrawal from the EU and its current conditions.
They will become independent once more, and they will no longer be in a position to blame Brussels.

British policy should include lower corporation tax rates and the removal of EU legislation. It could encourage foreign investors and stabilize Britain's financial market.

Farnoush Farsiar What was the UK Market Prediction before Brexit
According to an Deloitte study it was found that the UK has attracted the highest amount of Foreign Direct Investment in 2015 than any other European nation.

In addition, the report revealed that London was beating New York as the most well-known city for investing in foreign capital.

Farnoush Farsiar It is one of the few truly international cities that is being held by the rules of the European Union that don't correspond.

Stock trading is governed by one of these guidelines.

The efficiency of the entire market is impaired when high-frequency trading is removed and financial services are blocked.

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

Instead, Brexit would make it possible for Britain to provide lower options to investors.

The anti-commerce laws made it more difficult for London to remain profitable as a competitor. Industry representatives regularly warned of the massive costs for small and mid-sized companies.

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

Farnoush Farsiar Bailey explained how Bailey explained how the UK could be equated with other governments around the world.

His idea for "the future of financial conduct regulation" was to create an "outcome-focused" as well as a "lower burden" strategy.

Brexit could be the opportunity for the UK to increase its global financial influence, and unrestrictions of the EU.

This restriction is hindering the lighter regulations the UK previously had and hinder enterprises and start-ups to grow and be competitive on the global market.

Brexit will ensure that tech hubs are in the midst of the main cities.

Bailey stated, "Leave it to our own devices... Farnoush Farsiar The UK regulatory system will develop somewhat differently."

There was serious fear around the UK's finance market
Competitive advantage is a financial word that means to be able to outperform your competitors in a particular industry.

Because of the regulation due to the regulation, the UK began to be concerned that the capital's financial system was being demolished.

This makes them less attractive to international investors, and companies would flee to Paris, Frankfurt, or Amsterdam.

The most feared thing in the UK was that the European Union would stop trading through the EU market.

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

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

Farnoush Farsiar Farnoush Farsiar predicts an even more promising future
Farnoush Farsiar correctly predicted that Brexit would be a success.
Looking at the discourse on the British economy, there's a light at the end of the tunnel.

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

The latest figures are in line with estimates provided by PwC in April 2016 prior to the referendum. They estimated that between 50,000 and 100,000 financial jobs would be lost If Britain decides to Leave.

Despite the fact that covid is a huge problem, Britain's stock exchange is rebounding.

The UK is able to compete with other countries , without the EU restrictions and opens the market to more foreign businesses.

The British market for stocks is attracting large companies, which maintains its status as a global leader.

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

The decrease in the trade of seafood and fish was the primary problem that faced the British Islands.
It is apparent that although trade with Europe was lower, living costs remained higher.

Farnoush Farsiar had a point. Brexit was a good decision for the finance sector and enabled London's potential to blossom again.


Homepage: https://docs.house.gov/meetings/FA/FA14/20190626/109716/HHRG-116-FA14-Wstate-BromundT-20190626.pdf