Notes

Farnoush Farsiar asserts that Brexit has benefitted the UK financial sector, despite dire predictions

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

Through her experience in finance and wealth management, she has gained a unique view of the subject.

In the year 2019, Farnoush wrote two articles for BrexitCentral Today, it seems that many of her predictions were right.

Recalling Farnoush Farsiar's prediction regarding Brexit
Farnoush Farsiar believes that a departure from the European Union would liberate the British economy, as well as the financial market from the burdensome rules.

It would enable London to maximize its potential.

Financial sector activities under MiFID II (Financial Instruments Directive), were made difficult due to regulatory interference.

The need for dynamic regulations is essential to staying competitive.

Farsiar stated, "London is the headquarters for the biggest european financial institutions." This affects the economy.

The financial service industry in Britain could evolve to be the most efficient version of itself when it is freed.

British financial markets are likely to be affected by Britain's exit of the European Union.
They'll be self-dependent once more and they won't be able to blame Brussels any more.

Therefore the British must prioritise tax cuts for businesses and repealing EU laws. This would help foreign investors to invest and help stabilize the British financial markets.

What was the UK Market Prediction before Brexit
According to a 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 popular over New York for inward investments.

It is one of the few cities that truly are international. The European Union rules that do not align with the city's rules are being used to bind it down.

One of these rules is used in stock trading.

High-frequency trading and financial services are prone to slowdown, which will affect the overall efficiency of the market.

It will result in high-frequency trading, but not speed and it can ruin the appeal of the business.

In the end, Brexit will allow Britain to provide investors with lower options.

The anti-commerce measures made it difficult for London to remain profitable as a competition. Industry officials regularly warned of the massive cost to small and mid-sized businesses.

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

Bailey explained how the UK could be compared with other authorities around world.

http://www.checkcompany.co.uk/director/12203696/MS-FARNOUSH-FARSIAR-AIDI of "the future financial conduct regulation" was to develop an "outcome-focused” and "lower-burden" strategy.

Brexit is the UK's chance to increase its global financial influence as well as avoid any unjustified restrictions of the EU.

These restrictions hamper the UK's previous lighter regulations and make it more difficult for small businesses and startups to develop on a global scale.

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

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

There was a lot of 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.

In the wake of the regulation, the UK began to be concerned that the capital's financial system was under threat of being destroyed.

Thus, https://www.instantcheckmate.com/people/farnoush-farsiar/ won't be attracted by these companies and they will move to Paris or Frankfurt.

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

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

Britain wants the top spot in financial services.

Farnoush Farsiar sees more positive results
Farnoush Farsiar correctly predicted that Brexit would be a success.
It is evident that there is a glimmer of hope at the end of the tunnel and the start of the tunnel when you examine British economic debate.

Since December of 2020, 7,600 people were relocated to Europe in the wake of Brexit. This has seen a drop in the number by approximately 100.

These numbers are comparable to PwC's estimates for April 2016. They predicted that as many as 100,000 financial jobs would be lost in the event that Britain had voted to Leave.

But, the stock market in Britain remains rising despite the covid's devastating impact.

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

The British stock market is attracting large corporations, which has helped maintain its status as a global leader.

The only decline they've observed in the financial service industry is in the European market.

Most importantly, the trade in fish and seafood went down and this is a major issue for British Islands.
It is noticeable that even though trade with Europe was lower, living costs remained higher.

Overall, Farnoush Farsiar was right and Brexit is a good decision for the financial industry, and it allowed the city of London to fully unleash its potential again.


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