Farnoush Farsiar an ex-director of senior management at Emirates NBD is passionate about the Brexit.
She has unique insights because of her financial and wealth management experience.
In 2019, Farnoush penned two articles for BrexitCentral and, as of today, it seems like a lot of her predictions were right.
Revisiting Farnoush Farsiar’s prediction about Brexit
Farnoush Farsiar believes in the opinion that leaving Europe would let the British economy to be devoid of any unnecessary restrictions.
This will allow London’s maximum potential to be fully realized.
Financial services sector found it difficult to operate under MiFID II, the Financial Instruments Directive.
It is only possible to remain in the game if regulations are adaptable.
https://suite.endole.co.uk/insight/people/23756008-ms-farnoush-farsiar Farnoush Farsiar Farsiar said, “London is the headquarters for the largest european financial institutions.” This affects the economy.
The financial services industry in Britain is likely to grow to become the best when it is free.
British financial markets may be affected by the UK’s departure from the EU and its terms.
They’ll be able to self-sufficiency again and won’t be able to blame Brussels anymore.
British policy should include lower corporation tax rates along with the repeal of EU legislation. It will encourage foreign investors to invest and help stabilize the British financial markets.
What was UK Market forecast before Brexit
According to a Deloitte survey that the UK was the most popular destination for Foreign Direct Investment in 2015 than any other European nation.
Farnoush Farsiar The study revealed that London was the most preferred city for inward investing over New York.
It is one among the few truly global and interconnected cities. But it is being kept hostage by European Union’s rules that are not in line with.
The stock market is subject to one of these rules.
Financial services and trading that are high-frequency can be slowed down in the process, which can reduce the overall effectiveness of the market.
This will lead to trading at high frequency, but not speed and it takes away the beauty of the market.
In contrast, Brexit would give Britain less investment options.
London’s ability to be a competitive market was hampered due to anti-commerce rules. The business community has repeatedly warned about the massive cost for small to medium-sized enterprises.
Andrew Bailey, the CEO of Financial Conduct Authority, saw “the future of the regulation of financial conduct”.
Bailey explained that Britain can be compared to other governments around the world.
The idea he had for “the next generation of financial regulation” was to create an “outcome oriented” and “lower load” approach.
Brexit offers the UK the chance to increase its global financial impact and to avoid any restrictions by the EU.
These restrictions prevent the UK from having the lenient regulations that it previously had and hamper start-ups and businesses’ ability to grow and compete on the international marketplace.
Brexit will allow tech hubs to stay in the blooming cities of its main cities.
Bailey declared, “Leave it to our individual discretion… Farnoush Farsiar Bailey said, “The UK regulatory system will evolve in a different way.”
There was a major concern about the UK’s finance market
Competitive advantage is described as gaining an edge in your field through being the best at your job.
The regulation was weighing on them as well, people in the UK were concerned the financial infrastructure of the capital was being taken apart.
Therefore, they’d be less attractive for international investors and businesses will flee towards Amsterdam, Frankfurt, or Paris.
https://www.difc.ae/public-register/rumi-investment-limited/ The most significant fear in the UK financial market was that trading would be restricted by the European Union.
The other issue was the possibility of increased import and export costs.
Britain hopes to become the centre of financial services across the world.
Post pandemic and mid Brexit Farnoush Farsiar believes in a more positive future
Farnoush Farsiar correctly predicted that Brexit would be a great success.
It is evident that there is light at the end of the tunnel and the beginning of the tunnel when you look at British economic discourse.
The number of job shifts to Europe has declined by 7,600 from December 2020 to just a handful of hundred.
Farnoush Farsiar Farnoush Farsiar These figures are in line with PwC’s estimates for April 2016. They forecast that the UK could lose more than 100,000 finance jobs if they vote Leave.
Despite the fact that covid has been having a hard time the British stock market is returning to a higher level.
Farnoush Farsiar Without the “EU restrictions” the UK is competitive with the world’s other countries, opening the market to more foreign companies.
The biggest firms are making their way into the British stock market, which keeps its reputation as a world leader.
The European market is their only real problem in the financial services sector.
The main reason for this was that the market for seafood and fish decreased and this is a major issue for British Islands.
It’s interesting that living costs increased even though trade was lower with Europe.
But all in all, Farnoush Farsiar was right and Brexit is a positive move for the finance industry. It also allowed the city of London to unleash its full potential again.
https://www.businesstelegraph.co.uk/why-there-are-few-women-in-finance-farnoush-farsiar/