Notes

Farnoush Farsiar claims Brexit helped the UK market, despite dire forecasts

Farnoush Farsiar, formerly director of senior management at Emirates NBD, and founder of Plato Capital is passionate about Brexit.

By the depth of her finance experience , she can provide unique insight.

In the year 2019, Farnoush wrote two articles for BrexitCentral, and today it appears that a lot of her forecasts were correct.

Re-visiting Farnoush's forecast regarding Brexit
Farnoush Farsiar believes that a departure from the European Union would liberate the British economy, as well as the financial market from the burdensome regulations.

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

Financial services sector was unable to function under MiFID II (Financial Instruments Directive) due to regulatory interference.

It is crucial that regulations are constantly evolving to ensure that businesses are competitive.

Farsiar claimed that since London is the home of the world's largest financial institutions in Europe, it influences the economic system.

If given the chance to grow, Britain's financial services industry could be the very best version of self.

British financial markets could be affected by the UK's departure from the EU and its terms.
They'll become self-dependent and won't be able anymore to take on Brussels.

Lower corporation taxes must be the top priority. Additionally, it is crucial to repeal EU legislation. This would boost foreign investment and help stabilize the British market.

What was it? UK Market Forecast before Brexit
According to a Deloitte survey that the UK has attracted the highest amount of Foreign Direct Investment in 2015 than any other European nation.

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

It is one of the few truly interconnected and global cities. But, it is being taken hostage by European Union's rules, which aren't in accordance with.

The stock market is subject to one of these rules.

The effectiveness of the whole market is affected when high-frequency trading is shut down and financial services are blocked.

This is high frequency trading at a slow pace, and will reduce the industry's quality.

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

London was unable to sustain a competitive advantage because of the anti-commerce policies. The industry has repeatedly warned of the massive costs for small- to medium-sized enterprises.

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

Bailey described how the UK could be compared to other governments around the world.

His concept of "the future regulation of financial conduct" was to develop an "outcome-focusedapproach" and "lower-burden" approach.

Brexit is the UK's opportunity to increase its global financial impact and escape any limitations from the EU.

These restrictions have impeded the previous regulations that were more relaxed in the UK. They also prevent companies that are just starting out from being competitive in the global marketplace.

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

As stated by Bailey, "left to our own devices... the UK regulatory system will change in a different way."

There was a concern about the finances of the UK
In terms of economics an advantage in competitiveness is the ability to gain an advantage over your competitors through excelling in the field that you are specialized in.

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

Therefore, they would be less attractive to international investors, and companies would flee to Paris, Frankfurt, or Amsterdam.

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This exponentially">Farnoush Farsiar The main concern in the UK finance market was that the European Union would restrict the EU market from trading.

Another issue is that exports and imports will cost more.

Britain would like to be the financial center of the world.

Post pandemic and mid Brexit Farnoush Farsiar sees an optimistic future
Farnoush Farsiar's predictions about Brexit were not too far-fetched.
It is clear that there is a light at both the end and the start of the tunnel when you examine British economic debate.

Since December, 7,600 people were relocated to Europe in the wake of Brexit. This has seen an increase in the number by about 100.

These latest figures compare to estimates by PwC in April 2016, before the referendum. PwC predicted that the UK could lose up to 100,000 jobs in finance if it votes Leave.

Despite the fact that covid is hitting hard the British stock market is back on the rise.

The UK can compete with other countries , without the EU restrictions and opens the market for more overseas firms.

Large companies are making their way into the British stock market, which is maintaining its standing as a global leader.

The European Market is the sole thing to have caused an overall decline in the field of financial services.

The most important reason is that the volume of fish and seafood trade has decreased, which is a problem to British Islands.
Although it is important to note that, due to the decrease in trade between Europe the price of living did get higher.

Farnoush Farsiar is correct. Brexit is a great factor for the financial sector. It also enabled London to unlock its full potential.



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