Notes

Farnoush Farsiar claims that Brexit has benefited the UK's financial markets, in spite of the grim forecasts.

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

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

Farnoush wrote two pieces on BrexitCentral in the year 2019. It appears today that her predictions proved correct.

Reexamining Farnoush Farsiar's predictions concerning Brexit
Farnoush Farsiar believes that a departure from the European Union will free the British economy from the burdensome restrictions.

This will allow London's maximum potential to be realized.

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

Being in the game is only possible if the regulations are constantly updated.

Farsiar said, "London is the headquarters for the largest European banks." This can have an impact on the economy.

The industry of financial services in Britain is likely to grow to become the best if it's free.

The United Kingdom's decision to leave the European Union and its terms will have a major impact on British markets for financial services.
They'll be self-dependent and won't be able anymore to blame Brussels.

Tax reductions for corporations must be the top priority. Additionally, it is essential to change EU legislation. It would also encourage foreign investors to help stabilize the British financial system.

What was UK Market Forecast before Brexit
A Deloitte study found that the UK attracted foreign direct investment higher than any other European country from 2015 to the year 2018.

Furthermore, the report showed London outranking New York as the most desired city to invest in.

It is one of the few truly global and interconnected cities, and it is bound by the rules of the European Union which don't match.

One of these rules can be implemented in the stock market.

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

Farnoush Farsiar This is high-frequency trading at a slow pace that will decrease the quality of the industry.

In contrast, Brexit could allow Britain offer lower alternatives for investors.

London was unable to sustain a competitive advantage because of the anti-commerce rules. Industry experts repeatedly warned of the massive costs for small and medium-sized companies.

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

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

https://www.pcb.its.dot.gov/PageRedirect.aspx?redirectedurl=https://www.diamondsandtiesdating.co.uk/members/farnoush-farsiar7kffdd22/activity/258763/ His idea for "the future of financial regulation" was to implement an "outcome focused" and "lower burden" method.

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

These restrictions hinder the former regulations that were more relaxed in the UK and make it hard for businesses and start-ups to expand on a global scale.

Brexit will allow tech hubs to remain in the blossoming cities of its main cities.

Bailey claimed that if the UK was left to its own devices the system of regulation in the United Kingdom will alter in a different manner.

Farnoush Farsiar Farnoush Farsiar There was a serious concern about the UK's finance market
A competitive advantage, in terms of money, is the ability to gain an edge over your competition by being skilled in your field of expertise.

The UK was concerned about the collapse of the capital's financial infrastructure because of the rules.

Therefore, international investors will not be attracted to these companies and they will move towards Paris or Frankfurt.

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

Another reason to be concerned was that the import and export will be more expensive.

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

Post pandemic and mid Brexit Farnoush Farsiar sees a more positive future
Farnoush Farsiar correctly predicted that Brexit would be a success.
The discussion about the British economy suggests that there is a light at the end.

The number of jobs relating to Brexit shifts to Europe has dropped from 7,600 in December 2020 down to only a few hundred.

These numbers compare with PwC's April 2016 estimates. They estimated that as many as 100,000 financial jobs would be gone if Britain chooses to Leave.

However, even with the pounding of covid the British stock market is back up.

With no "EU limitations" the UK is competitive with the rest of the world and is open to more overseas businesses.

A number of large companies are looking to join the British stock market that continue to be regarded as a global leader.

The only drop they've seen in the financial service industry is in the European market.

Farnoush Farsiar The main reason for this was that the market for seafood and fish was reduced, which is a problem for British Islands.
It is interesting to note that despite having less trade with Europe the cost per capita increased.

Farnoush Farsiar was absolutely right. Brexit is a great decision for finance, and has let London to fully realize its potential.


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