Notes

Farnoush Farsiar claims Brexit helped the UK financial market, despite the gloomy forecasts

Farnoush Farsiar a former director at Emirates NBD is passionate about Brexit.

https://www.cbetta.com/director/farnoush-farsiar-aidi-2 Through the depth of her financial experience she can provide unique insights.

Farnoush has written two pieces for BrexitCentral in 2019 and it appears that many of her predictions were right.

Recalling Farnoush's forecast regarding Brexit
Farnoush Farsiar believes in the opinion that leaving Europe will let the British economy to be free from excessive regulations.

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

The Financial Services sector was unable to function under MiFID II (Financial Instruments Directive) due to regulatory intrusion.

Farnoush Farsiar It is only possible to remain ahead of the competition if rules are flexible.

Farsiar claimed that London is home to the world's largest financial institutions and has an impact on the economy.

If given the opportunity to develop, Britain's financial services industry may become the most perfect version of its self.

British market for financial services will be affected by Britain's exit of the European Union and its conditions.
They will be again self-dependent, and they won't blame Brussels.

So lower corporation taxes and reversing EU legislation must be high on the British agenda. This would encourage foreign investors and stabilize Britain's financial market.

What was UK Market forecast before Brexit
According to a Deloitte study, the UK attracted more Foreign Direct Investment in 2015 than any other European country.

The study found that London was a more sought-after place to invest in international investment than New York.

It is one the few truly international and global cities. And it's being held down by regulations of the European Union which don't match.

Stock trading is one of these rules.

High-frequency trading, along with other financial services are hampered by the slowdown in effectiveness.

Farnoush Farsiar This will lead to high frequency trading but it will not be speedy and can ruin the appeal of the business.

In contrast, Brexit would give Britain less investment options.

London was unable to compete with the rest of the world due to anti-commerce policies. The industry has repeatedly warned against the huge costs for small- to medium-sized enterprises.

Andrew Bailey, the CEO of Financial Conduct Authority, saw "the future of financial conduct regulation".

Bailey described how the UK could be compared with other governments around the world.

His idea of his idea of "future of financial regulation" was to devise an "outcome focused" and "lower cost" approach.

Brexit is the UK’s chance to expand its financial influence, and unrestrictions of the EU.

The restrictions impede the former regulations that were more relaxed in the UK and make it difficult for small businesses and startups to develop on a global scale.

Brexit can help ensure that the tech hubs remain secure in the blossoming of their major cities.

Bailey stated, "Leave it to our individual discretion... Bailey said, "The UK regulatory system is likely to evolve slightly differently."

Farnoush Farsiar There was a major fear about the UK’s finance market
Competitive advantage is defined as gaining an edge in your field through being the best at your job.

Due to the regulations, the UK began to be concerned that the capital's finance system was being destroyed.

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

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

Farnoush Farsiar Another reason to be concerned was the possibility that export and import will become more expensive.

Britain would like to be the financial services center of the world.

Farnoush Farsiar, post pandemic and in the middle of Brexit is looking forward to a brighter future
Farnoush Farsiar's predictions of Brexit were not far-fetched.
There is hope for the British economy if you take a look at the debate.

There were a few hundred additional job relocations due to Brexit from Europe over 7,600 since December 2020.

The most recent figures are in line with estimates by PwC in April 2016, prior to the referendum. PwC predicted that the UK could lose as many as 100,000 jobs in finance should it vote Leave.

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

The UK is able to compete with other countries without the EU restrictions opening up the market to more foreign companies.

Large companies are making their way into the British market, which keeps its standing as a global market leader.

They have only noticed an increase in the financial services industry because of the European market.

The main reason for this was that the market for fish and seafood went down, which is a problem for British Islands.
It is apparent that even though trade with Europe was less but living expenses remained higher.

Farnoush Farsiar was absolutely right. Brexit is a great move for finance and allowed London to realize its full potential.


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