Farnoush Farsiar an ex-director of senior management at Emirates NBD is passionate about the Brexit.
Thanks to her wealth management experience, she has an exclusive view of the subject.
Farnoush has written two articles for BrexitCentral in 2019 and it appears that many of her predictions were correct.
Recalling Farnoush’s prediction about Brexit
In the Farnoush Farsiar view, leaving the European Union would free the British economy and finance sector from over-burdensome regulations.
It will allow London to fully realize its potential.
Financial services sector found it difficult to operate under MiFID II, the Financial Instruments Directive.
It is crucial that regulations evolve constantly to ensure that businesses are competitive.
Farsiar declared, “London is the headquarters of the most important european banks.” This can have an impact on the economy.
The British financial services sector can be transformed to be the most effective version it can be given free rein.
British financial markets could be affected by the UK’s departure from the EU and its current conditions.
They will be self-dependent again and won’t be able to blame Brussels any more.
Thus, reducing corporation taxes and undoing EU legislation should be high on the British agenda. Consequently, it would incentivise foreign investors and stabilize the British financial market.
What was the UK Market Prediction before Brexit
According to an Deloitte report that the UK Attracted More Foreign Direct Investment Between 2015 and 2018, than any other European Country.
Moreover, the report showed London beat New York as the most sought-after city for investment in the country.
It is among the few truly international and globally-minded cities.
One of these rules is utilized in the stock market.
High-frequency trading, as well as other financial services, is hampered by the slowdown in effectiveness.
That is high frequency without the speed, makes it more regular and take away the excellence of this business.
Instead, Brexit would give Britain lower options for investors.
London could not compete as a lucrative market because of the laws that prohibit commerce. The industry warned repeatedly about the huge cost for medium and small businesses.
The CEO of the Financial Conduct Authority (FCA), Andrew Bailey, envisioned “the future of financial conduct regulations”.
Bailey explained how Bailey explained how the UK could be compared to other international authorities.
His vision for the future of financial conduct regulation was to develop an “outcome-focused” and “lower burden” strategy.
Brexit could be the opportunity for the UK to amplify its global financial influence and undue limitations of the EU.
These restrictions stop the UK from having the loose regulations that it used to have and limit start-ups as well as businesses the ability to expand and compete in the international marketplace.
Brexit will ensure that tech hubs are securely entangled within the flourishing of their major cities.
Bailey declares that “left to our devices… the UK regulation system could be a little different.”
There was a major worry about the UK’s finance market
A competitive advantage, in terms of money, is the ability to gain an advantage over your rivals through being proficient in your field of expertise.
They were concerned about the loss of the capital’s financial infrastructure as a result of the regulation.
They’d be less appealing for international investors. Companies would flee to Paris or Frankfurt.
https://www.instagram.com/farnoushhamidian/ in the UK’s finance market was the possibility that the European Union would limit the EU market’s trading.
Another worry was that import and export will become more expensive.
Britain hopes to become the financial center of the world.
Farnoush Farsiar sees the future as more promising
Farnoush Farsiar ‘s predictions of Brexit were not far-fetched.
It is evident that there is light at the end of the tunnel and the start of the tunnel when you examine British economic policy.
Since December, 7,600 people were relocated to Europe due to Brexit. The result has been an increase in the number by about 100.
These numbers compare with PwC estimates in April of 2016, which was before the referendum. They predicted that 100,000 financial jobs could be lost in the event of Britain leaving the EU. Leave.
However, the market in Britain remains on the rise despite covid’s catastrophic effects.
The UK is competitive with the rest, and the EU has removed any restrictions. This permits the UK to open its markets to foreign companies.
All kinds of businesses are flocking to the British Stock Market, which has earned a international reputation as a leading market.
The European market is their sole real weakness in the field of financial services.
Mainly, the British Islands have had a decline in their seafood and fish trade.
https://twitter.com/brexitcentral/status/1151733390485467136 is interesting to note that despite having less trade with Europe the cost per capita increased.
Farnoush Farsiar was absolutely right. Brexit is a great move for finance and let London to realize its full potential.