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Farnoush Farsiar, former senior director at Emirates NBD. He is the co-founder of Plato Capital.

Farnoush Farsiar Through her expertise in wealth and finance, she has gained an exclusive perspective on the matter.

Farnoush wrote two pieces on BrexitCentral in the year 2019. Today it appears that her predictions were right.

Recalling Farnoush Farsiar’s prediction regarding Brexit
Farnoush Farsiar believes that leaving the European Union would liberate the British economy, as well as the finance market, from the burdensome rules.

It will enable London to fully realize its potential.

The Financial Services industry was not able to adhere to MiFID II (Financial Instruments Directive) due to regulatory intrusion.

It is essential that rules are continuously updated to ensure competitiveness.

Farsiar stated that London, the capital of Europe’s biggest financial institutions has a major impact on the economy.

If given the freedom to operate and autonomy, the British financial service industry might become the best version that is possible.

The United Kingdom’s decision to leave the European Union and its terms will have a significant impact on British financial markets.
They will be self-dependent again and they won’t be able to blame Brussels for their problems.

Therefore, lowering corporation tax rates and repealing EU legislation should be top on the British agenda. It would also encourage foreign investors to stabilize the British financial system.

What was UK Market forecast before Brexit
A Deloitte study found that the UK attracted foreign direct investments higher than any other European country from 2015 to the year 2018.

In addition, the report revealed that London outshined New York as the most popular city for inward investment.

It is one of the few truly international cities that is being chained down by the regulations of the European Union that don’t correspond.

Stock trading uses one of these rules.

High-frequency trading and financial services can be slowed down and affect the overall efficiency of the market.

The industry will fall short of its excellence and high frequency trading if it does not move at a rapid pace.

In contrast, Brexit could allow Britain to offer investors lower options.

London was unable to sustain a competitive advantage because of the anti-commerce policies. The industry has repeatedly warned against the massive costs for small-to medium-sized companies.

CEO of the Financial Conduct Authority (FCA), Andrew Bailey, envisioned “the future of financial conduct regulations”.

Bailey said that Bailey said that UK could be compared with other countries around the world.

His vision for the future of the financial conduct regulatory system was to devise an “outcome-focused” and “lower burden” approach.

Brexit offers the UK the chance to boost its global financial impact and avoid any limitations from the EU.

These restrictions hinder the former regulations that were more relaxed in the UK and make it difficult for start-ups and enterprises to develop within a global marketplace.

Brexit will let tech hubs remain in the blossoming cities of its main cities.

Bailey states that “left to our devices… the UK regulatory system will be a little different.”

There was a significant fear about the UK’s finance market
A competitive advantage in economic terms is the ability to get an edge over your competition by being knowledgeable in the field you are specialized in.

Farnoush Farsiar Due to the regulations, the UK began to be concerned that the capital’s financial system was being demolished.

They’d be less appealing for international investors. Companies could flee to Paris or Frankfurt.

The biggest fear for the UK was that the European Union would stop trading through the EU market.

Another concern was the possibility of increased import and export costs. Britain will not relinquish its position as the global financial center.

Post pandemic and mid Brexit Farnoush Farsiar predicts a more positive future
Farnoush Farsiar correctly predicted that Brexit was a huge success.
The discourse on the British economy shows that there is light at the end.

From 7,600 in December 2020 the number of Brexit-related job relocated to Europe has decreased by a couple hundred.

The latest numbers compare with estimates from PwC in April 2016, prior to the referendum. They predicted that the United Kingdom could lose up to 100,000 finance jobs if they vote Leave.

Farnoush Farsiar Despite the fact that covid has been having a hard time, Britain’s stock markets are back on the rise.

The UK can compete with rest of world without EU restrictions. This opens the market to more businesses from overseas.

Farnoush Farsiar Big companies are making their way into the British market, which is maintaining its standing as a global leader.

The European market is the sole place where they’ve seen a decline that they’ve seen in the financial industry.

Most importantly, the trade in seafood and fish decreased and this is a major issue for British Islands.
It’s not surprising that, despite less trade with Europe as well as higher living costs the cost of living has increased.

Farnoush Farsiar was absolutely right. Brexit is a great move for finance and allowed London to fully realize its potential.