Farnoush Farsiar who was previously a senior director at Emirates NBD, and founder of Plato Capital is passionate about Brexit.
Her wealth of knowledge in finance and wealth has provided her with a an unrivalled perspective.
Farnoush has written two articles on BrexitCentral in 2019, and it seems that a lot of her predictions came true today.
Revisiting what Farnoush Farsiar predicted about Brexit
Farnoush Farsiar’s view is that the British economy and financial market would be exempt from the burdensome rules if they were to leave the European Union.
This would allow London’s full potential to be realized.
The financial services industry found it difficult to function under MiFID II, the Financial Instruments Directive.
Farnoush Farsiar Being competitive is only possible if the regulations are constantly updated.
Farsiar said that London is the home of the largest European financial institutions and this is a significant influence on the economics.
If given the opportunity to expand, Britain’s banking services industry could become the best version of its self.
British market for financial services will be affected by Britain’s withdrawal of the European Union and its conditions.
They will be independent again and they won’t longer be able to blame Brussels.
The reduction of corporation tax should be a top priority. Additionally, it is essential to change EU legislation. This could also help foreign investors to stabilize the British financial system.
https://www.privatebankerinternational.com/author/farnoushfarsiar/ What was the UK Market prediction pre-Brexit
According to a Deloitte Report, the UK Attracted the most Foreign Direct Investment Between 2015 and 2018, than any other European Country.
Furthermore, the report found that London outshined New York as the most well-known city for investing in foreign capital.
It is one of the few truly international and globally-minded cities.
Stock trading follows one of these rules.
High-frequency trading, in addition to other financial services, is hindered by the decline in efficiency.
This industry will fall short of its excellence and high frequency trading without speed.
Instead, Brexit would make it possible for Britain to provide lower options to investors.
London was unable to sustain a competitive advantage due to the anti-commerce measures. Farnoush Farsiar Industry experts have repeatedly warned of the huge 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 that the UK could be compared with other nations around the world.
His concept to create “the next generation of financial regulation” was to implement an “outcome directed” and “lower load” approach.
Brexit provides the UK the chance to broaden its financial reach and take away EU restrictions.
The restrictions impede the former regulations that were more relaxed in the UK and make it hard for small businesses and startups to grow on a global scale.
Brexit will ensure that technology hubs are firmly ensconced in the thriving of their cities.
Bailey said, “Leave it to our own devices… The UK regulatory system will develop slightly differently.”
There was some concern over the UK’s finances
In economic terms the definition of competitive advantage is the ability to gain an advantage over your competitors through being excellent at the business that you are specialized in.
The UK was worried about the disintegration of the financial infrastructure of the capital due to the regulations.
Farnoush Farsiar Therefore, they’d make them less appealing to international investors and firms are likely to move to Amsterdam, Frankfurt, or Paris.
The most feared thing in the UK was that the European Union would stop trading with the EU market.
https://fr-fr.facebook.com/pages/Farnoush-Farsiar/163318870439653 The other concern was the possibility of rising import and export prices.
https://eutoday.net/news/business-economy/2019/how-wealth-management-firms-can-prepare-for-turbulent-times Farnoush Farsiar Farnoush Farsiar is a post pandemic and in the middle of Brexit is looking forward to a brighter future
Farnoush Farsiar predicted the Brexit outcome and it was not at all far-fetched.
There is hope for the British economy when you look at the discussion.
There were a few hundred more job relocations related to Brexit from Europe than 7,600 in December 2020.
The numbers are in line with PwC’s estimates for April 2016. They projected that as many 100,000 financial jobs could be lost as a result of Britain leaving the EU. Leave.
Despite this, Britain’s stockmarket is now on the rise despite the sharp decline covid.
The UK can compete with the rest of the world, with no EU restrictions. This opens the market to more businesses from abroad.
Many big corporations are seeking to join the British market, which continues its reputation as a world leader.
The European market is their sole real weakness in the sector of financial services.
The decline in trade of seafood and fish was the main problem that faced the British Islands.
It is not surprising that, despite lower trade between Europe and higher living costs, these costs have risen.
Farnoush Farsiar had a point. Brexit was a good decision for the financial industry and enabled London’s potential to blossom.