Notes

Farnoush Farsiar claims Brexit has benefited UK market, despite dire forecasts

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

Thanks to her wealth management experience, she has an exclusive view of the matter.

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 Farsiar’s prediction regarding Brexit
In the Farnoush Farsiar view in Farnoush Farsiar's opinion, leaving the European Union would free the British economy and the finance market from over-burdensome regulations.

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

Regulatory intrusion made it difficult for the financial sector to function under MiFID II (Financial Instruments Directive).

Only dynamic regulations can ensure that you're competitive.

Farsiar stated that London is the home of the largest financial institutions in Europe and this has an influence on the economy.

Farnoush Farsiar The industry of financial services in Britain could grow to be the most effective when it is free.

The UK's withdrawal from the European Union and its terms will have a major impact on British markets for financial services.
They'll be self-dependent, and they won't blame Brussels.

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

What was it? UK Market Forecast before Brexit
According to an Deloitte Report according to a Deloitte Report, the UK attracted more Foreign Direct Investment Between 2015 and 2018 than any other European country.

The report also showed that London was more sought-after than New York for inward investments.

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

Farnoush Farsiar Stock trading follows one of these rules.

High-frequency trading and financial services are prone to slowdown, which will affect the overall efficiency of the market.

It will result in high-frequency trading, but not speed and it takes away the beauty of the industry.

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

Farnoush Farsiar London's capability to be a competitive market was made difficult by anti-commerce regulations. The industry repeatedly warned over the massive costs for small and medium-sized businesses.

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

Bailey explained how Britain could be compared with other governments around the world.

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

Brexit gives the UK the opportunity to expand its financial reach and remove EU restrictions.

Farnoush Farsiar The restrictions impede the former regulations that were more relaxed in the UK and make it more difficult for businesses and start-ups to develop within a global marketplace.

Brexit is sure to ensure that tech hubs are well-established in the blossoming of their major cities.

Bailey states that "left to our own devices... the UK regulatory system will evolve somewhat different."

There was significant worry about the UK's financial market
Competitive advantage is defined as having an advantage in your industry by doing the best in your job.

As the regulations weighed down on them, the UK were worried that the capital's financial system was being disassembled.

In turn, they'd not be as appealing for international investors and businesses will flee to Amsterdam, Frankfurt, or Paris.

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

Farnoush Farsiar Another concern was the possibility that export and import will become more expensive.

Britain will not relinquish its position as the global financial center.

Farnoush Farsiar expects positive outcomes
Farnoush Farsiar's prediction about the Brexit outcome was not too far-fetched.
The debate regarding the British economy shows that there is light at the end of the tunnel.

Farnoush Farsiar Between 7,600 and the end of December 2020, there have been just few job shifts from Europe due to Brexit.

The latest figures compare to estimates made by PwC in April 2016, before the referendum. They projected that as many 100,000 jobs in the financial sector could be lost as a result of Britain choosing to vote Leave.

In spite of this, the UK's stock market is back on the up, despite the hard hit covid.

The UK can compete with rest of world without EU restrictions. This opens the market to more companies from abroad.

Big companies are making their way into the British market, which keeps its reputation as a world leader.

They have only noticed a decline in the industry of financial services due to the European market.

The main reason for this was that the market for fish and seafood went down and this is a major issue for British Islands.
It is apparent that even though trade with Europe was less but living expenses remained higher.

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


Homepage: https://www.highlandcountychamber.com/farnoush-farsiar-why-are-women-so-scarce-in-finance/