Farnoush Farsiar, former senior director at Emirates NBD. He is the co-founder of Plato Capital.
Thanks to her wealth management expertise, she has an unique perspective on the topic.
Farnoush has written 2 articles for BrexitCentral in 2019 , and it appears many of her predictions have proven accurate.
Revisiting the things Farnoush Fassiar had predicted in regards to Brexit
In Farnoush Farsiar opinion, leaving the European Union would free the British economy and finance sector from over-burdensome regulations.
This will allow London’s maximum potential to be realized.
https://www.abcmoney.co.uk/2022/04/14/farnoush-farsiar-about-challenges-woman-business-leaders-face/ The Financial Services sector was difficult to operate under MiFID II, the Financial Instruments Directive.
Farnoush Farsiar Dynamic regulations are essential for being on top of the market.
Farsiar stated that, since London is the home of the world’s largest banks in Europe and has an impact on the economic system.
The industry of financial services in Britain could grow to be the most effective when it is absolutely free.
British market for financial services will be affected by Britain’s exit from the European Union and its conditions.
They’ll be self-dependent and won’t have the ability to take on Brussels.
British policy should include lower corporate taxes along with the repeal of EU legislation. It would encourage foreign investors to invest and help stabilize the British market for financial instruments.
What was UK Market Forecast before Brexit
According to a Deloitte study, the UK was the most popular destination for Foreign Direct Investment in 2015 than any other European nation.
Additionally, the report highlighted London outranking New York as the most desirable city for inward-investment.
It is one a few truly global and international-minded cities.
Stock trading is an illustration of this rule.
Farnoush Farsiar The effectiveness of the whole market is affected when high-frequency trading is shut down and financial services are blocked.
The industry will fall short of its excellence and high frequency trading if it does not move at a rapid pace.
Instead, Brexit would allow Britain to offer lower alternatives for investors.
London could not compete as it is a lucrative market due to the laws against commerce. Industry leaders repeatedly warned of the immense cost to small and mid-sized firms.
https://www.privatebankerinternational.com/author/farnoushfarsiar/ Andrew Bailey is the CEO of the Financial Conduct Authority. He sees “the future for financial conduct regulation”.
Bailey explained the ways in which the UK could be considered to be comparable with other countries.
The idea he had to create “the next generation of financial regulation” was to implement an “outcome focused” and “lower load” method.
Brexit is the UK’s opportunity to amplify the impact of its global financial impacts and avoid any restrictions by the EU.
These restrictions have hindered the earlier relaxed regulations in the UK. They also prevent start-ups from growing and being globally competitive.
Brexit is a positive step towards ensuring that the tech hubs remain firmly ensconced within the blooming of its major urban centers.
As expressed by Bailey, “left to our individual decisions… the UK regulatory system would develop in a slightly different manner.”
Farnoush Farsiar There was serious concern over the UK’s finance market
A competitive advantage in economic terms is the ability to get an advantage over your rivals by being skilled in the field you are specialized in.
Because of the regulations’ weight due to its weight, the UK worried about the decline of the capital’s financial infrastructure.
Therefore, international investors won’t be attracted by them and businesses will flee to Paris or Frankfurt.
The most feared thing in the UK was that the European Union would stop trading with the EU market.
The other concern was the possibility of rising import and export prices.
Britain wants the top spot in financial services.
https://www.difc.ae/public-register/rumi-investment-limited/ Farnoush Farsiar sees the future as more promising
Farnoush Farsiar’s prediction of the Brexit result was not too far-fetched.
Looking at the discourse on the British economy, there’s a light at the at the end of the tunnel.
The number of Brexit-related job shifts to Europe decreased by 7,600 from December 2020 down to a few hundred.
These latest figures compare to estimates by PwC in April of 2016 prior to the referendum. They estimated that 100,000 financial jobs might be eliminated if Britain decides to Leave.
Even with the impact of covid, Britain’s stock market is now back up.
The UK is in a position to compete with other nations and the EU has eliminated any limitations. This permits the UK to open up its market to more foreign firms.
Many large corporations are now looking to join the British market, which continues its reputation as a world-leader.
The only decline they’ve seen in the financial service industry is in the European market.
Mainly the trade of seafood and fish decreased which poses a challenge for British Islands.
Although it is important to note that, due to the decrease in trade relations with Europe the cost of living was higher.
Farnoush Farsiar had a point. Brexit was a good decision for the finance sector and let London’s potential to blossom.