Olivia Piercy comments on economic abuse and coercive control in Spear’s
Olivia’s comments were published in Spear’s, 8 October 2024, and can be seen here.
Olivia Piercy, Partner in our Family & Relationships department, discusses the growing issue of economic abuse affecting ultra-high-net-worth (UHNW) women.
Olivia explains that the UHNW lifestyle can often conceal coercive financial control, making it more difficult for victims to identify and challenge abusive behaviour within their relationships.
Economic abuse, a form of coercive and controlling behaviour, is experienced by the vast majority of domestic abuse victims 95%, according to Surviving Economic Abuse. Olivia and other leading family lawyers warn that the British legal system is falling short in recognising and addressing this issue, particularly in complex financial remedy proceedings involving UHNW individuals. Victims may be left vulnerable, with limited access to funds or legal recourse.
The article references a new report from the Domestic Abuse Committee, which proposes reforms to better protect victims of economic abuse. Olivia supports these recommendations, calling for clearer legal definitions and stronger mechanisms to ensure that financial control is properly addressed in family law cases. She emphasises the urgent need for the legal system to evolve in order to provide meaningful protection for all victims, regardless of wealth.
Read the full article on the Spear's website [external link].