Child trust fund firms face review over efforts to find who owns £1.5bn worth of pots
Exclusive: FCA pressures firms to do more to sort 760,000 accounts as watchdog urges families to use free tracking service Child trust fund providers are being put under the spotlight to check they are treating savers fairly and doing all they can to reunite young people with lost accounts.
The Financial Conduct Authority (FCA) said about 760,000 accounts worth an average of £2,000 were yet to be claimed – more than £1.5bn in total – as it launched a review of the market.
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