Notes

Farnoush Farsiar claims Brexit has been beneficial to the UK financial market despite grim predictions

Farnoush Farsiar was previously an executive director at Emirates NBD and is passionately involved with Plato Capital.

Her wealth of experience in the fields of finance and wealth has provided her with a unique perspective.

In 2019, Farnoush wrote two articles for BrexitCentral, and today it seems like a lot of her predictions were right.

Revisiting Farnoush's forecasts about Brexit
In the Farnoush Farsiar view that a departure from 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 realized.

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

You can only stay competitive if regulations are flexible.

Farsiar stated, "London is the headquarters of the most important European financial institutions." This affects the economy.

When given freedom given the chance, the British financial services industry could become the most efficient version possible.

British markets for financial services are likely to be affected by the UK's exit of the European Union.
They'll become self-sufficient once more, and they won’t be able blame Brussels for anything.

https://fr-fr.facebook.com/pages/Farnoush-Farsiar/163318870439653 So the British must prioritise tax cuts for companies and the repeal of EU laws. This would boost foreign investment and help stabilize the British market.

https://professionalparaplanner.co.uk/tag/advice-threat/ What was the UK Market forecast before Brexit
A Deloitte study revealed that the UK attracted the most foreign direct investment than any other European country between 2015 between 2015 and 2018.

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

It is one among the few truly global and interconnected cities. However it is taken hostage by European Union's rules which do not match.

https://lexcliq.com/how-can-wealth-management-firms-prepare-for-turbulent-times-farnoush-farsiar/ Stock trading is a prime example of this rule.

Stopping high-frequency trading as well as other financial services slows down the effectiveness of the entire market.

High frequency trading that lacks speed will lead to regular trading, which will diminish the quality of trading.

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

London could not keep pace with the world because of anti-commerce policies. The industry has repeatedly warned about the huge cost for medium and small firms.

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

Bailey explained that Britain can be compared with other authorities around the world.

The idea behind his idea of "future of financial conduct regulations" was to devise an "outcome focused" as well as a "lower cost" approach.

Brexit could be the opportunity for the UK to increase its global financial influence as well as avoid any unjustified restrictions from the EU.

These restrictions hamper the UK's previous lighter regulations and make it hard for businesses and start-ups to develop within a global marketplace.

Brexit is sure to ensure that technology hubs are firmly ensconced in the blossoming of their cities.

According to Bailey, "left to our individual decisions... the UK regulatory system would change in a different way."

There was a significant fear around the UK's finance market
Competitive advantage, in economic terms, is having an edge over your competition through having a strong understanding of your business.

Farnoush Farsiar Due to the regulations, the UK was concerned that the capital's finance system was under threat of being destroyed.

Therefore, they would be 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 from the EU market.

Another issue is that import and exported will cost more.

Britain will not relinquish its position as the world's financial hub.

Farnoush Farsiar is a post pandemic, and in the middle of Brexit sees a brighter future
Farnoush Farsiar was right to forecast the Brexit outcome.
When you look at the discussion about the British economy, there's a light at the at the end of the tunnel.

Since December of 2020, 7,600 people were relocated to Europe in the wake of Brexit. This has seen a drop in the number by about 100.

These numbers are comparable to PwC estimates from April 2016, which were released before the referendum. They estimated that up to 100,000 jobs in finance could be lost If Britain chooses to Leave.

Even with covid hitting hard, Britain's stock market is back on the rise.

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

Companies of all sizes are attracted to the British Stock Market, which has a reputation for being a world market leader.

They've only seen a decline in the industry of financial services due to the European market.

https://www.highlandcountychamber.com/farnoush-farsiar-why-are-so-few-women-in-finance/ Mainly the trade of seafood and fish was reduced which poses a challenge for British Islands.
It's not a surprise that, despite a lower level of trade between Europe and higher living expenses rising, the costs of living have increased.

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


Read More: https://brexitcentral.com/author/farnoush-farsiar/