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Farnoush Farsiar asserts that Brexit has benefited the UK financial sector despite the dire forecasts

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

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

Farnoush wrote two articles for BrexitCentral in 2019, and it seems that a lot of her predictions came true this morning.

Revisiting what Farnoush Fassiar predicted about Brexit
Farnoush Farsiar is of the opinion that leaving Europe would allow the British economy to be free of unnecessary rules.

It will allow London city to realize its potential to the fullest extent.

The Financial Services sector was unable to function under MiFID II (Financial Instruments Directive) due to regulatory intrusion.

It is only possible to remain in the game if regulations are adaptable.

Farsiar explained that London is home to the largest financial institutions in Europe and this has an influence on the economics.

The industry of financial services in Britain is likely to grow to become the most effective when it is free.

The UK's withdrawal from the European Union and its terms will have an impact on British markets for financial services.
They'll be able to self-sufficiency again, and they won’t be able to blame Brussels any longer.

The British should prioritize lowering corporate taxes and delaying the repeal of EU legislation. It could encourage foreign investors as well as stabilize the financial market.

What was UK Market forecast before Brexit
According to an Deloitte report that the UK attracted more Foreign Direct Investment between 2015 and 2018 than any other European country.

Additionally, the report highlighted London surpassing New York as the most desired city to invest in.

It is among the few truly international and global cities, and it is restricted by rules of the European Union which don't match.

One of these rules is implemented in the stock market.

The efficiency of the entire market is impaired when high-frequency trading is shut down and financial services are stopped.

This industry will lose its excellence and high frequency trading without speed.

Instead, Brexit will allow Britain to provide investors with less options.

London had a difficult time to maintain its position as a viable competitor because of the anti-commerce rules. The industry has repeatedly warned about the huge cost for medium and small companies.

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

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

His idea for "the future of regulation of financial conduct" was to set out to develop an "outcome-focused" as well as a "lower burden" approach.

Brexit could be the opportunity for the UK to expand its financial influence, and unrestrictions from the EU.

These restrictions have hindered the earlier relaxed regulations in the UK. They also prevent start-ups from growing and being globally competitive.

Brexit will allow tech hubs to remain in the blooming cities of its major cities.

Bailey claimed that if the UK was left to its own devices, the UK's regulatory system could alter in a different manner.

There was concern in the UK's finances
Competitive advantage, in economic terms means having an advantage over your competitors through being an expert in your business.

They were worried about the loss of the capital's financial infrastructure as a result of the rules.

International investors might find them less appealing and they would move to Paris, Frankfurt or Amsterdam.

The most significant fear in the UK financial market was the possibility that the trading market would be shut down by the European Union.

Another concern was the fact that import and export will be more expensive.

Britain would like to be the centre of financial services around the globe.

Mid Brexit Farnoush Farsiar believes in a more positive future
Farnoush Farsiar's predictions of Brexit were not too far-fetched.
If you examine the British economy discourse there is a light at end of the tunnel.

Between 7,600 and December 2020 there has been only one or two job moves to Europe due to Brexit.

The most recent figures are in line with estimates from PwC in April 2016 before the referendum. They predicted that 100,000 financial jobs might be eliminated If Britain votes Leave.

However, even with the pounding of covid the British stock market is in the ascendancy.

The UK is able to compete with the rest of world without EU limitations. This opens up the market to more businesses from overseas.

Companies of all sizes are flocking to the British Stock Market, which has a the reputation of being a global market leader.

The European Market is the only factor that has led to a decline in the industry of financial services.

The decline in trade of seafood and fish was the primary problem facing British Islands.
It is apparent that even though trade with Europe was lower however, living costs were higher.

Farnoush Farsiar was correct, and Brexit is a positive move for the financial sector. It allowed London to unleash its full potential.

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This exponentially">Farnoush Farsiar

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