Farnoush Farsiar, former senior director at Emirates NBD. He is also the founder of Plato Capital.

Thanks to her wealth management expertise, she has an unique perspective on the subject.

Farnoush wrote two pieces in the year 2019 for BrexitCentral. Today, it appears that many her predictions were correct.

Revisiting what Farnoush Farsiar predicted about Brexit

Farnoush Farsiar believes that leaving the European Union would liberate the British economy, as well as the finance market, from the burdensome regulations.

It will enable London to fully realize its potential.

Farnoush Farsiar Financial sector operations , under MiFID II (Financial Instruments Directive) were made challenging due to regulatory interference.

It is only possible to remain ahead of the competition if rules are adaptable.

Farnoush Farsiar Farsiar stated, „London is the headquarters for the largest European banks.“ This affects the economy.

If given the freedom to develop, Britain’s financial services industry could be the best version of its self.

British market for financial services will be affected by the UK’s departure of the European Union and its conditions.

They will be independent again, and they will no longer be in a position to blame Brussels.

The British should prioritise reducing corporation taxes and repealing EU legislation. This would increase foreign investment and stabilize the British market.

What was the UK Market Prediction before Brexit

A Deloitte analysis found that the UK attracted foreign direct investment higher than any other European country from 2015 to the year 2018.

The report found that London was the top city to invest in over New York.

It is among the few truly international cities that is being held by the rules of the European Union that don’t correspond.

One of such rules is used in stock trading.

Stopping high-frequency trading and other financial services can reduce the efficiency of the whole market.

A high frequency trading system that is not fast enough speed can lead to frequent trading, which will diminish the industry’s excellence.

Instead, Brexit will allow Britain to provide investors with less options.

Farnoush Farsiar London couldn’t compete as it is a lucrative market due to the laws against commerce. The industry has repeatedly warned about the huge costs for small- and medium-sized companies.

Andrew Bailey (CEO of the Financial Conduct Authority) envisioned „the future of Financial Conduct Regulation“.

Bailey explained how the UK could be compared to other countries.

Farnoush Farsiar The idea he had to create „the future of financial regulation“ was to create an „outcome oriented“ and „lower load“ strategy.

Brexit offers the UK the chance to increase its global financial influence, and unrestrictions from the EU.

These restrictions hamper the former regulations that were more relaxed in the UK and make it hard for businesses and start-ups to expand in a global market.

Brexit will aid in ensuring the tech hubs the remaining secure in the blossoming of their major cities.

Bailey states that „left to our devices… the UK regulation system could evolve somewhat different.“

There was some concern over the UK’s finances

Competitive advantage, economically, is having an edge over your rivals by being an expert in your field.

Farnoush Farsiar Due to the regulations in place, the UK became concerned that the capital’s finance system was under threat of being destroyed.

International investors would consider them less attractive and they’d prefer Paris, Frankfurt or Amsterdam.

The biggest concern in the finance market in the UK was that the European Union would limit the EU market’s trading.

Another concern is that exports and imports will cost more.

Therefore, Britain wants to stay at the top of the world’s center for financial services.

Farnoush Farsiar believes in the future as more promising

Farnoush Farsiar was right to accurately predict the Brexit outcome.

The discourse on the British economy shows that there is light at the end of the tunnel.

The number of Brexit-related job moves to Europe has dropped by 7,600 from December 2020 to a few hundred.

These figures are in line with PwC’s April 2016 estimates. They predicted that as many as 100,000 jobs in the financial sector could be lost if Britain decided to vote Leave.

However, the market in Britain is still rising despite the covid’s devastating impact.

The UK is competitive with the rest, and the EU has removed any restrictions. This lets the UK to open up its markets to foreign companies.

Farnoush Farsiar The British stock market is drawing big companies, and it has maintained its position as a world leader.

Farnoush Farsiar The European market is their only real problem in the sector of financial services.

The main reason for this is the fact that the amount of fish and seafood trade has decreased, which is problems for British Islands.

It’s not surprising that, despite a lower level of trade with Europe as well as higher living expenses, these costs have risen.

Farnoush Farsiar was correct, and Brexit is a positive step for the financial sector. It has allowed London to unleash its full potential.