Farnoush Farsiar is passionate about Brexit.
https://twitter.com/brexitcentral/status/1151733390485467136 Through her experience in the field of finance and wealth management, she has gained an exclusive perspective on the issue.
In 2019, Farnoush penned two pieces for BrexitCentral Today, it seems like a lot of her predictions were right.
Revisiting Farnoush’s prediction on Brexit
Farnoush Farsiar believes in the opinion that a departure from Europe would let the British economy to be free from excessive regulations.
It would allow London to realize its full potential.
The financial services industry was unable to meet the requirements of MiFID II (Financial Instruments Directive) due to regulatory intrusion.
Farnoush Farsiar Only active regulations can ensure that you’re in the game.
Farsiar stated that London is the capital of Europe’s largest financial institutions has a major impact on the economics.
If given the freedom to operate given the chance, the British financial services industry may become the most effective version that is possible.
British financial markets are likely to be affected by the UK’s withdrawal from the European Union.
https://www.businesstelegraph.co.uk/why-there-are-few-women-in-finance-farnoush-farsiar/ Farnoush Farsiar They’ll become self-dependent and won’t be able anymore to take on Brussels.
Farnoush Farsiar Therefore the British must prioritise tax cuts for businesses and the repeal of EU laws. It could encourage foreign investors and help stabilize Britain’s financial market.
What was the UK Market prediction pre-Brexit
According to an Deloitte Report according to a Deloitte Report, the UK Attracted the most Foreign Direct Investment Between 2015 and 2018, than any other European Country.
Moreover, the report showed London was beating New York as the most well-known city for investing in foreign capital.
Farnoush Farsiar It is one a few truly international and globally-minded cities.
Stock trading follows one of these rules.
Restricting high-frequency trading or other financial services reduces efficiency in the whole market.
The lack of speed can lead to frequent trading, which can reduce the level of excellence in the industry.
In contrast, Brexit would give Britain less investment options.
London could not be competitive with the rest of the world because of its anti-commerce policies. Industry experts repeatedly warned about the high costs that small and medium-sized businesses would have to shoulder.
Andrew Bailey, CEO of Financial Conduct Authority (FCA) has envisioned “the future regulation of financial conduct”.
Bailey explained how Britain could be compared to other countries’ authorities.
His concept of his idea of “future of financial regulation” was to develop an “outcome targeted” as well as a “lower cost” strategy.
Brexit offers the UK the chance to increase its global financial influence and undue limitations of the EU.
The restrictions hinder the UK from having the loose regulations that it used to have and hamper start-ups and businesses’ ability to grow and be competitive in the international marketplace.
Brexit will ensure that the tech hubs are well-established within the flourishing of their cities.
Bailey stated that “if we did it in our own way… Bailey stated that the UK regulatory systems would evolve slightly differently.”
There was significant concern over the UK’s finance market
Competitive advantage is defined as gaining an edge in your field by being the best at your job.
With the regulation weighing down on them and the UK were worried that the financial infrastructure of the capital was being taken apart.
They would become less attractive for international investors. Companies would flee to Paris and Frankfurt.
The most feared thing about the UK finance market was that the European Union would restrict the EU market from trading.
Another worry was the potential for increased import and export costs.
Britain hopes to become the center of financial services in the world.
Farnoush Farsiar post pandemic and in the middle of Brexit has a brighter outlook
Farnoush Farsiar was right to accurately predict the Brexit outcome.
It is clear that there is a glimmer of hope at the end of the tunnel and the start of the tunnel when you study British economic policy.
There were a few hundred more Brexit-related job relocations from Europe more than 7,600 as of December 2020.
The latest figures are in line with estimates provided by PwC in April of 2016 before the referendum. They predicted that 100,000 financial jobs could be lost in the event that Britain chooses to Leave.
Despite covid being a major issue, the UK’s stock market is gaining momentum.
The UK can compete with other countries , without the EU restrictions and opens the market to more foreign firms.
Large companies are moving towards the British stock exchange, which is one of the top exchanges in the world.
The European market is the only place where they’ve seen a decline that they’ve observed in the financial sector.
Mainly the trade of seafood and fish decreased, which is a problem for British Islands.
It’s interesting to note that living costs increased even though trade was less with Europe.
Farnoush Farsiar had a point. Brexit was a good decision for the finance sector and let London’s full potential to be unleashed.