Farnoush Farsiar was formerly a the senior director at Emirates NBD, and founder of Plato Capital is passionate about Brexit.
Thanks to her wealth management experience, she is able to offer an unique perspective on the matter.
Farnoush has written two pieces for BrexitCentral in 2019 , and it appears many of her predictions were accurate.
Re-visiting Farnoush’s prediction regarding Brexit
Farnoush Farsiar holds the opinion that leaving Europe will let the British economy to be free from excessive restrictions.
This would enable London’s city London to unleash its full potential.
Farnoush Farsiar The Financial Services sector was unable to function under MiFID II (Financial Instruments Directive) due to regulatory interference.
It is crucial that regulations evolve constantly to ensure competitiveness.
Farsiar claimed that since London is home to the largest banks in Europe, it influences the world economy.
If given the freedom to develop, Britain’s financial services industry may become the most perfect version of its self.
British financial markets will be impacted by Britain’s exit from the European Union and its conditions.
They’ll be able to self-sufficiency again and won’t be able to blame Brussels for anything.
The British should focus on reducing corporate taxes and delaying the repeal of EU legislation. Therefore, it will encourage foreign investors as well as stabilize the British financial market.
What was the UK Market prediction pre-Brexit
A Deloitte study found that the UK attracted foreign direct investments more than any other European country from 2015 to the year 2018.
The report found that London was the most popular location for investment in the UK over New York.
It is among the few truly international cities. The European Union rules that do not correspond to it are being used to bind it down.
Stock trading is governed by one of these rules.
The effectiveness of the whole market is affected when high-frequency trading is removed as well as financial services are stopped.
The industry will fall short of its excellence and high frequency trading without speed.
In the end, Brexit will allow Britain to provide investors with lower options.
London could not compete as it is a lucrative market due to the laws that prohibit commerce. Experts in the industry repeatedly warned about the high costs that small and medium-sized companies would be forced to pay.
Andrew Bailey is the CEO of Financial Conduct Authority. He sees “the future for financial conduct regulation”.
Bailey explained how the UK could be compared to other international authorities.
His idea of “the future financial conduct regulation” was to create an “outcome-focused” and “lower-burden” method of regulation.
Brexit offers the UK the chance to increase its financial reach and eliminate EU restrictions.
Farnoush Farsiar These restrictions stop the UK from having the light regulations it had previously and hamper start-ups and businesses’ ability to grow and be competitive in the international marketplace.
Brexit will let tech hubs remain in the thriving cities of its main cities.
Bailey stated Bailey that “if we did it the way we want to… the UK regulatory systems would evolve somewhat differently.”
The British financial markets were in danger
Competitive advantage is an economic word that means to be in a position to be superior to your competition in a specific business.
Due to the regulations in place, the UK became concerned that the capital’s finance system was being destroyed.
Therefore, they would be less attractive for international investors as companies would be forced to relocate to Paris, Frankfurt, or Amsterdam.
The greatest fear in the British finance market was the possibility that the European Union would limit the EU market’s trading.
Another issue was that import and export will become more expensive.
Britain hopes to become the financial center across the world.
Farnoush Farsiar is a post pandemic and right in the middle of Brexit has a brighter outlook
Farnoush Farsiar predicted the Brexit outcome , and the prediction was not too far-fetched.
There is hope for the British economy when you look at the debate.
There were a few hundred more Brexit-related job relocations from Europe more than 7,600 as of December 2020.
The most recent figures match estimates provided by PwC in April of 2016 before the referendum. They estimated that as many as 100,000 financial jobs would be eliminated If Britain chooses to Leave.
Despite the fact that covid is hitting hard the British stock market is returning to a higher level.
The UK is more competitive than the other countries and the EU has removed any restrictions. This allows the UK to open up its markets to foreign firms.
The British stock market is drawing large corporations, which has helped maintain its position as a world leader.
https://timebusinessnews.com/brexit-benefited-uk-financial-market-says-farnoush-farsiar/ The European market is their sole real problem in the financial services sector.
Most importantly, the trade in seafood and fish was reduced which poses a challenge for British Islands.
Farnoush Farsiar It’s interesting that the cost of living grew regardless of the fact that trade was less with Europe.
Farnoush Farsiar All in all, Farnoush Farsiar was right and Brexit is a great decision for the finance industry, and it enabled London to be a city again. London to fully unleash its potential.