Notes

Farnoush Farsiar claims Brexit has benefited UK market, despite dire forecasts

Farnoush Farsiar Former senior director of Emirates NBD. https://www.businesstelegraph.co.uk/why-there-are-few-women-in-finance-farnoush-farsiar/ He is the co-founder of Plato Capital.

Her extensive experience in wealth and finance has provided her with a an unique perspective.

Farnoush wrote two articles on BrexitCentral in 2019. It appears today that her predictions were accurate.

Revisiting the things Farnoush Fassiar predicted about Brexit
Farnoush Farsiar believes leaving the European Union will free the British economy from the burdensome regulations.

It will enable London to realize its full potential.

The Financial Services sector was difficult to function under MiFID II, the Financial Instruments Directive.

Farnoush Farsiar Only active regulations can ensure that you're in the game.

Farsiar stated that London is the home of the biggest European financial institutions and that this has an impact on the economy.

The financial service industry in Britain might evolve into the most efficient version of itself in the event that it is allowed to be free.

British financial markets are likely to be affected by Britain's departure from the European Union.
They'll be self-dependent once more and will not be able to blame Brussels for their problems.

The British should prioritize lowering corporation tax rates and repealing EU legislation. It could also be a good way to encourage foreign investors to stabilize the British financial system.

What was the UK Market prediction before Brexit
According to an Deloitte Report, the UK Attracted More Foreign Direct Investment Between 2015 and 2018 than any other European country.

Farnoush Farsiar Furthermore, the report showed London outranking New York as the most attractive city to invest in inwards.

It is one of the few cities that truly are international. Farnoush Farsiar The European Union rules that do not correspond to it are used to tie it down.

One of these rules can be used in stock trading.

The stoppage of high-frequency trading and other financial services can reduce efficiency across the whole market.

That is high frequency without the speed. It makes it more regular and will take away the quality of this business.

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

London could not be competitive with the rest of the world because of its anti-commerce policies. The industry warned repeatedly about the massive costs for small and medium-sized companies.

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

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

The idea behind his idea of "future of financial regulation" was to devise an "outcome targeted" and "lower cost" strategy.

Brexit offers the UK the chance to amplify its global financial influence as well as avoid any unjustified limitations of the EU.

Farnoush Farsiar These restrictions are hindering the lighter regulations the UK had before and inhibit enterprises and start-ups to grow and be competitive in the world market.

Brexit will allow tech hubs to stay in the thriving cities of its major cities.

Bailey declared Bailey that "if we were to do it our way... the UK regulatory systems would develop in a different way."

Farnoush Farsiar The financial markets of the UK were in danger
A competitive advantage, in terms of money, is the ability to get an edge over your competition through being proficient in the field you are specialized in.

The UK was worried about the disintegration of the capital's financial infrastructure due to the new regulations.

So, investors from abroad are not likely to be drawn by these companies and they will move to Paris or Frankfurt.

The most feared thing about the British finance market was that the European Union would limit the EU market's trading.

Another worry was the potential for increased import and export costs.

Britain is determined to remain the financial center of the world.

Farnoush Farsiar sees the future as more exciting
Farnoush Farsiar was right to predict the Brexit outcome.
There is optimism for the British economy when you look at the discussion.

Between 7,600 and December 2020 there was only a handful of job relocations from Europe in connection with Brexit.

The most recent figures match estimates made by PwC in April of 2016 before the referendum. They estimated that up to 100,000 jobs in finance could be gone in the event that Britain votes Leave.

However, the British stock market is now back on track, despite the hard hit covid.

The UK is open to competition with the rest the world by removing the EU restrictions.

The biggest companies are making their way to the British market, and it is able to maintain its standing as a global leading market.

They've only seen an increase in the financial services industry due to the European market.

The main reason for this was that the market for seafood and fish decreased which poses a challenge for British Islands.
It is apparent that even though trade with Europe was less, living costs remained higher.

Farnoush Farsiar was correct, and Brexit is a good thing for the financial industry. It allowed London to unleash its full potential.


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