Notes

Farnoush Farsiar claims Brexit was a blessing to the UK financial markets despite dire forecasts

Farnoush Farsiar was previously a senior director at Emirates NBD and is passionately involved in Plato Capital.

By the depth of her finance experience She is able to offer unique insights.

Farnoush wrote two pieces in the year 2019 for BrexitCentral. Today it appears that a lot of her predictions were accurate.

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

It will allow London city to tap its full potential.

Financial sector operations , under MiFID II (Financial Instruments Directive), were made difficult by regulatory intrusion.

The ability to remain competitive is only possible if the regulations are dynamic.

Farsiar stated that London, the capital of Europe's largest financial institutions, has a significant impact on the economy.

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

British financial markets will be affected by Britain's departure from the European Union.
They will become self-sufficient again, and they won’t be able blame Brussels anymore.

The British should focus on reducing corporation taxes and repealing EU legislation. This will encourage foreign investment and stabilize the British market.

https://suite.endole.co.uk/insight/people/23756008-ms-farnoush-farsiar What was it? UK Market Forecast before Brexit
According to an Deloitte survey it was found that the UK attracted more Foreign Direct Investment in 2015 than any other European nation.

Moreover, the report showed London beat New York as the most sought-after city for investment in the country.

It is one among the few truly global and interconnected cities. But, it is being held as a hostage by the EU's rules which do not match.

One of these rules can be used in stock trading.

Financial services and high-frequency trading can be slowed down, which will reduce the overall effectiveness of the market.

https://www.difc.ae/public-register/rumi-investment-limited/ This industry will lose its excellence and high-frequency trading without speed.

In contrast, Brexit could allow Britain to offer investors lower options.

London found it hard to remain a profitable competitor due to the anti-commerce measures. Industry leaders frequently warned of the huge costs to small- and mid-sized companies.

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

Bailey explained how the UK can be compared to other authorities around world.

The idea he had for "the next generation of financial regulation" was to establish an "outcome oriented" and "lower burden" strategy.

Brexit is the UK's opportunity to increase its global financial impact and escape any limitations by the EU.

The restrictions impede the previous regulations of the UK and make it more difficult for small businesses and startups to develop on a global scale.

Farnoush Farsiar Brexit will make sure that the tech hubs remain well-placed within the major cities.

As stated by Bailey, "left to our individual decisions... the UK regulatory system will change in a different way."

There was serious concerns about the UK's financial market
In terms of economics, a competitive advantage is having an edge over your competitors through excelling in the field that you specialize in.

They were worried about the devastation of the financial infrastructure of capital because of the regulation.

They would become less attractive for international investors. Businesses would leave for Paris or Frankfurt.

The greatest fear in the UK's finance market was the possibility that the European Union would limit the EU market's trading.

Another concern is that import and exported will cost more.

Thus, Britain wants to stay at the top of the world's financial services hub.

Farnoush Farsiar views the future as promising
Farnoush Farsiar correctly predicted that Brexit would be a success.
In the debate about the British economy, there is an end of the tunnel.

Farnoush Farsiar Since December, 7,600 people were relocated to Europe due to Brexit. This has led to a decrease in the number of people who have been relocated by around 100.

The latest figures compare to estimates made by PwC in April 2016 before the referendum. They predicted that the United Kingdom could lose up to 100,000 finance jobs if they vote Leave.

But, the stock market in Britain is still on the rise despite covid's devastating effects.

With no "EU limitations" the UK competes with the rest of the world which opens the market to more overseas companies.

All kinds of businesses are coming to the British Stock Market, which has a international reputation as a leading market.

Farnoush Farsiar They've only seen a decline in the field of financial services due to the European market.

The main reason is that the British Islands have had a decline in their seafood and fishing industry.
It's not surprising that, despite a lower level of trade with Europe and higher living expenses, these costs have risen.

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


Read More: https://www.difc.ae/public-register/rumi-investment-limited/