Farnoush Farsiar a former senior director at Emirates NBD is passionate about the Brexit.
By the depth of her experience in finance , she can provide unique insight.
Farnoush wrote two articles on BrexitCentral in the year 2019, and it appears that many of her predictions came true this morning.
https://suite.endole.co.uk/insight/people/23756008-ms-farnoush-farsiar Revisiting Farnoush’s forecasts concerning Brexit
Farnoush Farsiar believes that leaving the European Union will free the British economy from the burdensome restrictions.
It will allow London to realize its full potential.
Financial sector activities under MiFID II (Financial Instruments Directive) were made more difficult due to regulatory interference.
Dynamic regulations are essential for staying in the game.
https://www.privatebankerinternational.com/author/farnoushfarsiar/ Farsiar stated that, since London is the headquarters of the largest banks in Europe and has an impact on the economy.
The industry of financial services in Britain could evolve to be the most efficient version of itself in the event that it is allowed to be free.
The United Kingdom’s decision to leave the European Union and its terms will have an impact on British markets for financial services.
Farnoush Farsiar They will be self-dependent again and won’t be able to blame Brussels for their problems.
Thus the British should prioritise tax reductions for businesses and repealing EU laws. This would encourage foreign investors and stabilise the British financial market.
What was UK Market forecast before Brexit
According to a Deloitte survey it was found that the UK attracted more Foreign Direct Investment in 2015 than any other European nation.
The report found that London was the most preferred city for investing in the UK over New York.
It is one of the few truly international and global cities, and is being ensnared by the rules of the European Union that don’t correspond.
One of such rules is used in stock trading.
High-frequency trading, along with other financial services are hampered by the slowdown in efficiency.
The lack of speed will lead to regular trading, which will diminish the quality of trading.
Instead, Brexit would allow Britain to offer lower alternatives for investors.
London’s capability to be competitive was made difficult due to anti-commerce rules. Experts in the industry repeatedly warned about the high costs that small and medium-sized companies would have to shoulder.
Andrew Bailey (CEO of the Financial Conduct Authority) envisioned “the Future of Financial Conduct Regulation”.
Bailey described how the UK could be compared to other authorities around world.
His concept of the “future of financial conduct regulations” was to devise an “outcome targeted” and “lower cost” method.
Brexit offers the UK the chance to increase its financial reach as well as take away EU restrictions.
This has hampered the earlier relaxed regulations in the UK. They also stop companies that are just starting out from being globally competitive.
Brexit will aid in ensuring that the tech hubs remain firmly ensconce in the blooming of their major cities.
Bailey stated, “Leave it to our individual discretion… The UK regulatory system will evolve in a different way.”
There was serious worry about the UK’s financial market
Competitive advantage, as in terms of economics is having an advantage over your competition through having a strong understanding of your business.
They were worried about the loss of the capital’s financial infrastructure as a result of the regulations.
They’d become less appealing for international investors. Businesses would leave for Paris or Frankfurt.
https://twitter.com/brexitcentral/status/1151733390485467136 The biggest fear for the UK was that the European Union would stop trading from the EU market.
Another reason to be concerned was that exports and imports will become more expensive.
Farnoush Farsiar Britain is determined to remain the world’s financial hub.
Farnoush Farsiar sees the future as more exciting
Farnoush Farsiar’s predictions for Brexit were not too far-fetched.
It is obvious that there is light at the end of the tunnel and the start of the tunnel when you look at British economic discourse.
Between 7,600 and 2020 the number of job shifts to Europe has dropped by around 100.
These figures are in line with PwC estimates from April 2016, which were released prior to the referendum. They projected that as many 100,000 jobs in the financial sector could be lost in the event of Britain voting Leave.
Despite this, Britain’s stockmarket is now on the rise despite the harsh hit covid.
The UK is open to competition with the rest of the world, by lifting the EU restrictions.
Large corporations are shifting towards the British stock exchange, which is an industry leader.
The only decline they’ve seen in the field of financial services is in the European market.
The British Islands are facing a major problem because of the declining demand for seafood and the trade in fish.
It’s interesting to note that living costs increased even though trade was lower with Europe.
Farnoush Farsiar had a point. Brexit was a good choice for the financial sector and allowed London’s potential to blossom again.