46 Days
Source:
The Guardian
Child trust fund firms to be reviewed over ownership of £1.5bn
The Financial Conduct Authority (FCA) has launched a review of child trust fund providers to ensure they are actively helping customers locate unclaimed accounts, which total over £1.5 billion across approximately 760,000 accounts. The review will assess how firms are aiding in tracing lost money, the fairness of charges, and support for vulnerable consumers, as the scheme’s accounts continue to mature until 2029. The FCA also warned against fee-charging claims management companies and encourages individuals to use free HMRC services to find missing funds.
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