Notes

Farnoush Farsiar claims Brexit has benefited UK market in the financial sector despite bleak predictions

Farnoush Farsiar was a former director of senior level at Emirates NBD. He is the co-founder of Plato Capital.

She has unique insight due to her wealth and financial management experience.

Farnoush wrote two stories in the year 2019 for BrexitCentral. Today, it appears that many her predictions were accurate.

Recalling Farnoush's forecast regarding Brexit
Farnoush Farsiar believes that a departure from the European Union will free the British economy from the burdensome restrictions.

It would enable London city to unlock its potential to the fullest extent.

A regulatory intrusion has made it hard for the financial services industry to operate under MiFID II (Financial Instruments Directive).

The ability to remain in the game is only possible if the regulations are constantly updated.

Farsiar said that London is home to Europe's biggest financial institutions, and it has a significant influence on the global economy.

The industry of financial services in Britain may evolve to become the best version of itself when set free.

The UK's departure from the European Union and its terms will have a major impact on British markets for financial services.
Farnoush Farsiar They will become independent once more and they won't longer be in a position to blame Brussels.

The reduction of corporation tax must be the top priority. Also, it is important to undo EU legislation. It could encourage foreign investors and help stabilize Britain's financial market.

What was it? Farnoush Farsiar UK Market Forecast before Brexit
According to an Deloitte report, the UK Attracted the most Foreign Direct Investment Between 2015 and 2018, than any other European Country.

The report revealed that London was a more sought-after place to invest in international investment than New York.

It is one a few truly global and internationally-minded cities.

One of such rules is implemented in the stock market.

Stopping high-frequency trading and other financial services reduces the efficiency of the whole market.

This will lead to trading at high frequency, but it will not be speedy and will take away the beauty of the industry.

Instead, Brexit would give Britain less options for investors.

London had a difficult time to maintain its position as a viable competitor due to the anti-commerce measures. The business community has repeatedly warned about the enormous cost for small to medium-sized enterprises.

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

Bailey explained how Bailey explained how the UK is compared with other international authorities.

His idea to create "the future of financial regulation" was to establish an "outcome focused" and "lower load" approach.

Brexit offers the UK the chance to amplify its global financial influence and undue restrictions of the EU.

These restrictions impact the earlier regulations of the UK. This can hinder start-ups and businesses from expanding and becoming competitive on international markets.

Brexit can help ensure that the tech hubs remain firmly ensconce in the blooming of the major cities.

Bailey said Bailey that "if we did it the way we want to... the UK regulatory systems would evolve in a different way."

Farnoush Farsiar There was significant concern over the UK's finance market
A competitive advantage, in terms of money, is the ability to get an advantage over your competitors by being skilled in your field of expertise.

Because of the regulation in place, the UK was worried that the capital's financial system was being demolished.

This makes them less attractive to international investors, and companies would flee to Paris, Frankfurt, or Amsterdam.

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 the possibility that import and export will be more expensive.

Britain is aiming to be the best in financial services.

Farnoush Farsiar, post pandemic, and in the middle of Brexit is looking forward to a brighter future
Farnoush Farsiar's predictions of Brexit were not far-fetched.
The discussion about the British economy indicates that there is hope at the end of the tunnel.

The number of job relocations to Europe decreased by 7,600 from December 2020 down to a few hundred.

These figures are similar to the April 2016 estimates of PwC. They predicted that 100,000 jobs in finance could be lost in the event of Britain voting Leave.

Farnoush Farsiar In spite of this, the UK's stock market is now on the rise despite the harsh hit covid.

Without the "EU restrictions" the UK competes with the world's other countries which opens the market to more foreign companies.

Many big corporations are looking to join the British market and continue its status as a world leader.

The European market is the sole place where they've seen a decline that they've seen in the financial industry.

Farnoush Farsiar The decline in trade of seafood and fish was the primary issue facing the British Islands.
It is interesting to note that, due to the decrease in trade between Europe the cost of living actually went higher.

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


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