Farnoush Farsiar claims Brexit has benefited the UK financial market despite the gloomy forecasts
Farnoush Farsiar was previously a senior director at Emirates NBD and is passionately involved with Plato Capital.
Her extensive knowledge in finance and wealth has given her a an unique perspective.
Farnoush published two articles on BrexitCentral in the year 2019. Today , it appears her predictions proved correct.
Re-visiting Farnoush's forecast about Brexit
Farnoush Farsiar thinks that leaving the European Union would liberate the British economy, as well as the financial market from the burdensome regulations.
It would allow London's full potential to be realized.
The Financial Services sector was difficult to operate under MiFID II, the Financial Instruments Directive.
Only active regulations can ensure your business is effective.
Farsiar stated that London is the home of the largest financial institutions in Europe and this has an influence on the economics.
The British financial services sector could be transformed to become the most effective version it can be given free rein.
British financial markets may be affected by the UK's departure from the EU and its terms.
They will be again self-dependentand won't be blamed for Brussels.
https://www.privatebankerinternational.com/analysis/business-profile-plato-capital/ Lower corporation taxes should be a top priority. Also, it is essential to change EU legislation. It would stimulate foreign investors and stabilize Britain's financial market.
What was it? UK Market Forecast before Brexit
A Deloitte study found that the UK attracted foreign direct investment higher than any other European country from 2015 to the year 2018.
In addition, the report revealed London overtaking New York as the most desirable city for inward-investment.
It is one the few truly international and global cities. It is being held down by rules of the European Union which don't match.
Stock trading follows one of these guidelines.
High-frequency trading and financial services are prone to slowdown and impact the overall efficiency of the market.
The lack of speed will result in regular trading, which will diminish the industry's excellence.
In contrast, Brexit would give Britain less options for investors.
London's capability to be competitive was hindered by anti-commerce regulations. The industry has repeatedly warned against the enormous costs for small- to medium-sized businesses.
Farnoush Farsiar Andrew Bailey, CEO of Financial Conduct Authority (FCA) has envisioned "the future financial conduct regulation".
Bailey explained that Bailey said that UK could be compared to other countries around the world.
His idea of the future of the financial conduct regulatory system was to develop an "outcome-focused", and "lower burden" strategy.
https://timebusinessnews.com/brexit-benefited-uk-financial-market-says-farnoush-farsiar/ Brexit could be the opportunity for the UK to amplify its global influence on finance, as well as to remove all restrictions from the EU.
These restrictions have impeded the UK's prior lighter regulations. They also prevent start-ups from growing and being competitive on the global market.
Brexit will help to ensure that the tech hubs remain fully ensconced in the flourishing of the major cities.
According to Bailey, "left to our individual decisions... the UK regulatory system would develop in a slightly different manner."
https://getbritainout.org/johnson-and-javid-are-only-part-of-the-brexit-recipe-for-the-citys-success/ 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 knowledgeable in the field you are specialized in.
As the regulations weighed down on them, the UK were worried that the capital's financial infrastructure was being taken apart.
Consequently, they would be less attractive for international investors and businesses would flee towards Amsterdam, Frankfurt, or Paris.
https://www.highlandcountychamber.com/farnoush-farsiar-why-are-so-few-women-in-finance/ The largest fear in the UK was that the European Union would stop trading with the EU market.
Another concern is that export and import will cost more.
Britain is aiming to be the best in the field of financial services.
Farnoush Farsiar sees an even more promising future
Farnoush Farsiar predicted the Brexit outcome and it was not too far-fetched.
In the debate about the British economy, there is some light at the end of the tunnel.
Between 7,600 and December 2020, there was only a handful of job relocations from Europe related to Brexit.
These figures are in line with PwC estimates from April 2016, just before the referendum. They predicted that as many as 100,000 financial jobs would be gone if Britain voted Leave.
Despite covid being a significant issue, the British stock market is on the rebound.
The UK is open to competition with rest the world by removing the EU restrictions.
Businesses of all sizes are flocking to the British Stock Market, which has earned a the reputation of being a global leader.
The only drop they've noticed in the financial service industry is in the European market.
The main reason for this was that the market for seafood and fish was reduced and this is a major issue for British Islands.
It is not surprising that, despite lower trade with Europe as well as higher living expenses the cost of living has increased.
But all in all, Farnoush Farsiar was right, and Brexit is a great move for the finance industry. It also enabled the city of London to realize its full potential.
