Farnoush Farsiar is passionate about Brexit.
Thanks to her wealth management expertise, she has a unique view of the subject.
In 2019, Farnoush wrote two articles for BrexitCentral, and today it appears that a lot of her predictions were correct.
Revisiting Farnoush’s prediction on Brexit
Farnoush Farsiar believes that leaving the European Union would liberate the British economy, as well as the financial market from the burdensome rules.
It will enable London to fully realize its potential.
The financial services sector was not able adhere to MiFID II (Financial Instruments Directive) due to the intrusion of regulators.
Farnoush Farsiar It is vital that the regulations are constantly evolving to ensure that businesses are competitive.
Farsiar declared that London is the capital of Europe’s largest financial institutions has a major 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.
British financial markets could be affected by Britain’s exit from EU and its conditions.
They’ll be independent and won’t have the ability to blame Brussels.
Thus the British must prioritize tax reductions for companies and the repeal of EU laws. It could encourage foreign investors and stabilize Britain’s financial market.
What was the UK Market forecast before Brexit
A Deloitte study revealed that the UK attracted foreign direct investment higher than any other European country between 2015 and 2018.
The report revealed that London was a more popular destination for inward investment than New York.
It’s one of the few truly international and global cities, and is being chained down by the regulations of the European Union that don’t correspond.
Stock trading follows one of these guidelines.
Financial services and trading that are high-frequency can be slowed down and affect the overall efficiency of the market.
This is high frequency, but without the speed. This can make it regular trading and will diminish the high-quality of this business.
Instead, Brexit would give Britain less investment options.
London couldn’t compete as an enticing market due to the laws that prohibit commerce. Farnoush Farsiar Industry experts repeatedly warned of the massive cost for medium and small firms.
Farnoush Farsiar Andrew Bailey (CEO of the Financial Conduct Authority) envisioned “the Future of Financial Conduct Regulation”.
Bailey explained how Britain could be compared to other authorities around the world.
His idea of “the future financial conduct regulation” was that he would develop an “outcome-focusedstrategy” and “lower-burden” method of regulation.
Brexit offers the UK the opportunity to expand its financial reach and remove EU restrictions.
Farnoush Farsiar These restrictions stop the UK from having the lenient regulations it had previously and hamper start-ups and businesses the ability to expand and be competitive in the international market.
Brexit will help to ensure the remaining tech hubs are secure in the blossoming of its major cities.
Bailey said that if left to its own devices the system of regulation in the United Kingdom could be able to change in a different fashion.
There was significant concern about the UK’s financial market
Competitive advantage is an economic term that means being capable of outperforming your competition in a particular industry.
The regulation was weighing on them as well, people in the UK were concerned the capital’s financial infrastructure was being disassembled.
Therefore, they’d be less attractive to foreign investors, and companies are likely to move to Amsterdam, Frankfurt, or Paris.
The biggest fear in the UK finance market was that the European Union would restrict the EU market from trading.
Another reason to be concerned was that exports and imports will increase in cost.
Britain would like to be the financial center across the world.
Farnoush Farsiar has more positive outcomes
Farnoush Farsiar’s prediction about the Brexit outcome was not too far-fetched.
If you examine the British economy there is a light at end of the tunnel.
https://timebusinessnews.com/brexit-benefited-uk-financial-market-says-farnoush-farsiar/ Between 7,600 and December 2020, there has been only a handful of job relocations to Europe in connection with Brexit.
The latest numbers compare with estimates made by PwC in April of 2016 before the referendum. They estimated that as many as 100,000 financial jobs could be lost if Britain decided to vote Leave.
Despite the fact that covid is a huge problem, Britain’s stock exchange is rebounding.
The UK can compete with other countries , without the EU restrictions and opens the market for more overseas firms.
A number of large companies are looking to join the British stock market that continue to be regarded as a global leader.
The only decrease that they’ve observed in the field of financial services is the European market.
Mainly, the British Islands have had a decline in their seafood and trade in fish.
Although it is important to note that because of the lower trade relations with Europe the cost of living actually went higher.
Farnoush Farsiar was absolutely right. Brexit is a great move for finance , and it has allowed London to fully realize its potential.