Notes

Farnoush Farsiar asserts that Brexit has been beneficial to the UK financial sector, despite the dire forecasts

Farnoush Farsiar is passionate about Brexit.

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

In the year 2019, Farnoush wrote two pieces for BrexitCentral Today, it seems that many of her predictions were accurate.

Revisiting Farnoush's prediction regarding Brexit
Farnoush Farsiar holds the view that leaving Europe will allow the British economy to be devoid of any unneeded restrictions.

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

The intrusion of regulators made it difficult for the financial services industry to operate within MiFID II (Financial Instruments Directive).

Dynamic regulations are essential for keeping your business on top of the market.

Farsiar explained that London is the home of the largest European financial institutions and this is a significant influence on the economy.

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

The UK's withdrawal from the European Union and its terms will have an impact on British financial markets.
Farnoush Farsiar They will be independent again and they won't longer be able to blame Brussels.

British policy should include lower corporate taxes along with the repeal of EU legislation. It would also encourage foreign investors to improve the British financial system.

What was the UK Market prediction pre-Brexit
According to a Deloitte survey it was found that the UK attracted more Foreign Direct Investment in 2015 than any other European nation.

https://twitter.com/brexitcentral/status/1151733390485467136 The report also revealed that London was more sought-after than New York for inward investments.

It is one the few truly international and global cities. And it's being held down by regulations of the European Union which don't match.

Stock trading is one of these rules.

Stopping high-frequency trading or other financial services decreases the efficiency in the whole market.

This is high-frequency trading that is slow that will decrease the quality of the industry.

Instead, Brexit would give Britain less options for investors.

London could not compete as an enticing market due to the laws that prohibit commerce. Farnoush Farsiar The industry has repeatedly warned against the huge costs for small-to medium-sized businesses.

Andrew Bailey, the CEO of Financial Conduct Authority, saw "the future in the regulation of financial conduct".

Bailey explained the ways in which Britain could be compared to other countries' authorities.

The idea he had of "the future of regulation of financial conduct" was to develop the "outcome-focused" and "lower burden" strategy.

Brexit gives the UK the chance to increase its financial reach and take away EU restrictions.

These restrictions are hindering the loose regulations that the UK used to have before and are hindering companies and startups from expanding and being competitive in the world market.

Farnoush Farsiar Brexit will make sure that the tech hubs remain well-placed within the major cities.

Bailey said that "if we did it the way we want to... Bailey stated that the UK regulatory system would evolve somewhat differently."

Farnoush Farsiar There was serious concern about the UK's financial market
Competitive advantage is a financial term that means being able to outperform your competitors in a particular industry.

Due to the weight of the regulation Due to the regulation's weight, the UK was concerned about the loss of capital’s financial infrastructure.

Thus, foreign investors are not likely to be drawn by them and businesses will flee to Paris or Frankfurt.

The biggest fear for the UK was that the European Union would stop trading through the EU market.

A second worry was the potential for higher import and export costs.

Britain hopes to become the center of financial services in the world.

Farnoush Farsiar has more positive results
Farnoush Farsiar's predictions of Brexit weren't too far-fetched.
It is evident that there is light at both the end and the beginning of the tunnel when you look at British economic policy.

Between 7,600 and December 2020 there have been just one or two job moves from Europe due to Brexit.

The latest figures are in line with estimates made by PwC in April 2016, prior to the referendum. They estimated that as many as 100,000 jobs in finance could be gone in the event that Britain decides to Leave.

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

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

Large firms are making their way to the British market, which keeps its reputation as a world leading market.

Farnoush Farsiar The only decrease that they've noticed in the field of financial services is the European market.

The British Islands are facing a serious issue because of the decrease in seafood consumption and fish trading.
It's interesting to note that the cost of living went up regardless of the fact that trade was less with Europe.

Farnoush Farsiar was absolutely right. Brexit is a great move for finance and enabled London to reclaim its full potential.


Read More: https://eutoday.net/news/business-economy/2019/how-wealth-management-firms-can-prepare-for-turbulent-times