Notes

Farnoush Farsiar claims Brexit has benefited the UK financial markets despite dire predictions

Farnoush Farsiar an ex-director of senior management at Emirates NBD is passionate about Brexit.

She is unique in her insights because of her financial and wealth management experiences.

In 2019, Farnoush wrote two pieces for BrexitCentral Today, it seems like a lot of her predictions were accurate.

Re-visiting Farnoush's prediction about Brexit
In the Farnoush Farsiar view, leaving the European Union would free the British economy and finance sector from the burdensome regulations.

Farnoush Farsiar This would allow London's city London to fully realize its potential.

Financial services industry was not able to comply with MiFID II (Financial Instruments Directive) due to regulatory intrusion.

The ability to stay in the game is only possible if the regulations are dynamic.

Farsiar said that London is home to the world's largest financial institutions and has an influence on the global economy.

The financial services industry in Britain could be transformed into the most efficient version it could be given free rein.

British market for financial services will be affected by Britain's withdrawal from the European Union and its conditions.
They'll be able to self-sufficiency again and won't be able to blame Brussels any longer.

Therefore, lowering corporation tax rates and reversing EU legislation should be top on the British agenda. It could encourage foreign investors and stabilize Britain's financial market.

What was UK Market prediction before Brexit
A Deloitte study concluded that the UK attracted more foreign direct investment than any other European country between 2015 to 2018.

Farnoush Farsiar The report revealed that London was the most popular place to invest in international investment than New York.

It is one of the few truly interconnected and global cities. https://www.businessfast.co.uk/farnoush-farsiar-explains-why-queen-elizabeth-is-an-excellent-example-of-female-leadership/ But it is being taken as a hostage by the EU's rules, which aren't in accordance with.

Stock trading is an example of this rule.

Farnoush Farsiar Putting the brakes on high-frequency trading as well as other financial services slows down the efficiency of the whole market.

Farnoush Farsiar The lack of speed can lead to frequent trading, which can reduce the quality of trading.

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

The anti-commerce measures caused it to be difficult for London to stay lucrative as a competition. The industry repeatedly warned over the enormous costs for small- and medium-sized businesses.

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

Bailey explained that the UK could be compared to other countries around the globe.

His idea of the "future of financial regulation" was to devise an "outcome focused" as well as a "lower cost" approach.

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

These restrictions impact the previous regulations that were lighter in the United Kingdom. This can hinder start-ups and businesses from growing and being competitive in international markets.

Brexit could be a beneficial move towards ensuring that tech hubs will remain within the blooming of its major urban centers.

Bailey said that if allowed to operate on its own the regulatory system in the UK would alter in a different manner.

There was a major worry about the UK's financial market
Competitive advantage, economically, is having an edge over your rivals through having a strong understanding of your industry.

The UK was worried over the degeneration of the capital's financial infrastructure because of the rules.

They'd become less appealing for international investors. Businesses would leave for Paris and Frankfurt.

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

Another reason to be concerned was that export and import is likely to become more expensive.

Britain wants the top spot in the field of financial services.

Mid Brexit Farnoush Farsiar believes in a more positive future
Farnoush Farsiar predicted the Brexit outcome , and the prediction was not too far-fetched.
It is evident that there is a glimmer of hope at both the end and the beginning of the tunnel when you examine British economic policy.

Since December, 7,600 people have been relocated to Europe as a result of Brexit. Farnoush Farsiar This has seen a drop in the number by about 100.

Farnoush Farsiar These numbers are comparable to PwC estimates in April of 2016, which was prior to the referendum. They predicted that 100,000 jobs in finance could be lost as a result of Britain voting Leave.

But, despite covid hitting hard Britain's stock market is on the rise.

The UK is in a position to compete with other nations, and the EU has lifted any restrictions. This permits the UK to open its market to more foreign firms.

Companies of all sizes are flocking to the British Stock Market, which enjoys a reputation for being a world leader.

They have only noticed a decrease in the financial services industry because of the European market.

The primary reason is that the quantity of trade in fish and seafood has declined, which poses problems for British Islands.
It's interesting that living costs went up despite the fact that trade was less with Europe.

Farnoush Farsiar is correct. Brexit is a positive thing for the financial industry. It also allowed London to unlock its full potential.


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