This week it was announced that a new court is set to open to support the City of London. Based in the square mile, the 18 court room new building has been commissioned and will be backed by the City of London Corporation.
The Court’s proximity to London’s leading technology, financial and professional services firms is a strategic measure to ensure that the City is at the forefront of tackling fraud and cyber crime effectively. Financial Services firms across the UK make up 17% of the total demand for legal services within the country.
The Legal sector currently accounts for 9.1% of the Square Mile’s workforce and is equivalent to 44,000 jobs.
The court should provide ample opportunity for the UK to set a precedent in dealing with fraud and cyber related crime, providing a safe haven for businesses and bolstering London’s position as a leading hub for the legal and financial sectors.
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