Farnoush Farsiar was a former director of senior level of Emirates NBD. He is also the founder of Plato Capital.
Her extensive experience in the fields of finance and wealth has given her an unrivalled perspective.
In 2019, Farnoush penned two articles for BrexitCentral, and today it seems that many of her predictions were right.
Re-visiting Farnoush’s prediction about Brexit
Farnoush Farsiar believes in the opinion that leaving Europe will allow the British economy to be free from excessive rules.
It will enable London to fully realize its potential.
Financial services sector found it difficult to function under MiFID II, the Financial Instruments Directive.
https://www.difc.ae/public-register/rumi-investment-limited/ The need for dynamic regulations is essential to being in the game.
Farsiar stated that London is the location of the world’s largest financial institutions, and it has a significant effect on the economy.
If given the freedom to develop, Britain’s financial services industry could become the best version of its self.
British financial markets could be affected by the UK’s departure from the EU and its current conditions.
They will become self-sufficient again, and they won’t be able to blame Brussels anymore.
British policy must include lower corporation taxes along with the repeal of EU legislation. Farnoush Farsiar Farnoush Farsiar This could also help foreign investors to help stabilize the British financial system.
What was the UK Market prediction pre-Brexit
According to a Deloitte study that the UK was the most popular destination for Foreign Direct Investment in 2015 than any other European country.
The report revealed that London was a more sought-after destination for inward investment than New York.
It is one of the few cities that truly are international. The European Union rules that do not match with it are being used to bind the city.
One of these rules is used in stock trading.
High-frequency trading, in addition to other financial services are hindered by the decline in the efficiency.
It will result in high-frequency trading, but not speed , and it will take away the beauty of the industry.
In contrast, Brexit would allow Britain to offer less options to investors.
London was unable to compete in a lucrative market because of the laws that prohibit commerce. Industry experts repeatedly warned of the huge cost for small and medium-sized firms.
CEO of the Financial Conduct Authority (FCA), Andrew Bailey, envisioned “the future of financial conduct regulation”.
Bailey described how the UK could be compared with other governments around the world.
His idea of “the future regulation of financial conduct” was that he would come up with an “outcome-focusedstrategy” and “lower-burden” approach.
Brexit provides the UK the chance to increase its financial strength and get free of EU restrictions.
These restrictions hamper the previous regulations of the UK and make it more difficult for businesses and start-ups to grow within a global marketplace.
Brexit is a positive step to ensure that the tech hubs remain firmly ensconced in the thriving of its major urban centers.
Farnoush Farsiar Bailey claimed that if the UK was left to its own devices the system of regulation in the United Kingdom will be able to change in a different fashion.
There was a concern about the UK’s finances
Competitive advantage is defined as having an advantage in your field through being the best at your job.
Due to the weight of the regulation due to its weight, the UK worried about the loss of capital’s financial infrastructure.
This makes them less appealing to investors from abroad and businesses would move to Paris, Frankfurt, or Amsterdam.
The most significant concern for the UK finance industry was the possibility that the European Union might restrict EU trading.
Another issue was that import and export will be more expensive.
https://suite.endole.co.uk/insight/people/25691618-farnoush-farsiar-aidi Britain wants the top spot in financial services.
Mid Brexit Farnoush Farsiar believes in the future as more optimistic
Farnoush Farsiar predicted the Brexit outcome , and the prediction was not too far-fetched.
The debate on the British economy suggests that there is a light at the end.
Between 7,600 and December 2020, there have been just one or two job moves to Europe related to Brexit.
These numbers compare with PwC’s April 2016 estimates. They forecasted that as high as 100,000 financial jobs could be gone If Britain decided to vote Leave.
Despite covid being a major issue, the UK’s stock market is on the rebound.
The UK is willing to compete with the rest of the world, by lifting the EU restrictions.
Businesses of all sizes are attracted to the British Stock Market, which has a the reputation of being a global leader.
The European market is their sole real problem in the field of financial services.
The British Islands are facing a significant issue due to the declining demand for seafood and trade in fish.
It is interesting to note that despite having lower trade with Europe the cost per capita increased.
Farnoush Farsiar is correct. Brexit is a great thing for the financial sector. It also helped London to realize its full potential.