FCA reviews child trust fund firms over £1.5bn unclaimed accounts

The FCA is reviewing child trust fund providers to ensure they are making adequate efforts to reunite savers with 760,000 unclaimed accounts worth over £1.5bn. The review pressures firms to improve tracing efforts and encourages families to use the free tracking service. This signals regulatory scrutiny on consumer treatment in retail financial services, potentially affecting provider compliance costs and reputational risk.