Notes

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

Farnoush Farsiar who was previously a director of senior management at Emirates NBD, and founder of Plato Capital is passionate about Brexit.

With the wealth of her finance experience , she can offer unique insights.

Farnoush has written two articles for BrexitCentral in 2019 and it appears that many of her predictions have been accurate.

Recalling Farnoush's prediction about Brexit
Farnoush Farsiar believes that leaving the European Union would liberate the British economy, and the financial market, from the burdensome rules.

This would allow London's full potential to be fully realized.

Financial services industry was unable to meet the requirements of MiFID II (Financial Instruments Directive) because of the intrusion of regulators.

The ability to remain ahead of the competition is only possible when the regulations are constantly updated.

Farnoush Farsiar Farsiar stated that, since London is home to the largest banks in Europe and has an impact on the economic system.

Farnoush Farsiar If given the freedom to operate given the chance, the British financial services industry might become the best version that is possible.

British markets for financial services will be affected by Britain's departure of the European Union.
They'll be independent and won't be able to blame Brussels.

Tax reductions for corporations is a must. It is important to undo EU legislation. This could also help foreign investors to help stabilize the British financial system.

What was the UK Market Prediction before Brexit
A Deloitte study revealed that the UK attracted more direct foreign investment than any other European country between 2015 between 2015 and 2018.

The report revealed that London was a more popular destination for inward investment than New York.

It is one among the few truly global and interconnected cities. However it is being kept as a hostage by the EU's rules that are not in line with.

Farnoush Farsiar Stock trading is a prime example of this rule.

Financial services and trading that are high-frequency are prone to slowdown and reduce the overall effectiveness of the market.

A high frequency trading system that is not fast enough speed will result in regular trading, which will diminish the level of excellence in the industry.

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

London's capacity to function as a competitive market was hampered due to anti-commerce rules. The industry repeatedly warned over the huge costs for small and medium-sized businesses.

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

Bailey said that Bailey said that UK can be compared to other countries around the world.

The idea he had for "the future of financial conduct regulation" was to set out to evolve an "outcome-focused" and "lower burden" method of regulation.

Brexit is the UK's chance to amplify its global financial influence, as well as to remove unnecessary restrictions of the EU.

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

Brexit will be a positive step to ensure that the tech hubs will remain within the blooming of its major cities.

Bailey said, "Leave it to our own devices... The UK regulatory system will develop in a different way."

There was significant concern over the UK's finance market
Competitive advantage, in economic terms is having an advantage over your competition by being an expert in your industry.

The UK was worried about the collapse of the financial infrastructure of the capital because of the rules.

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

The largest fear in the UK was that the European Union would stop trading through the EU market.

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

Britain would like to be the centre of financial services in the world.

Farnoush Farsiar, post pandemic, and in the middle of Brexit has a brighter outlook
Farnoush Farsiar's prediction about the Brexit outcome was not far-fetched.
There is some hope for the British economy if you take a look at the debate.

The number of job moves to Europe has declined by 7,600 from December 2020 to a few hundred.

Farnoush Farsiar These figures are in line with PwC estimates in April of 2016, which was prior to the referendum. Farnoush Farsiar They estimated that as many as 100,000 financial jobs would be gone if Britain had voted to Leave.

But, despite covid hitting hard the British stock market is now back on the rise.

The UK can compete with other countries without the EU restrictions opening up the market to more foreign companies.

The British stock market is drawing big companies, and it has maintained its status as a global market leader.

Farnoush Farsiar The European market is their only real problem in the field of financial services.

The decline in trade of seafood and fish was the main problem facing British Islands.
It is noticeable that even though trade with Europe was less but living expenses remained higher.

Farnoush Farsiar is correct. Brexit is a good thing for the financial industry. It also enabled London to realize its full potential.


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