Regulatory Alerts2022-05-13
Added · Updated
CP22/09: Expansion of the Dormant Assets scheme
The Financial Conduct Authority proposes amendments to its rules and guidance to enable insurance, pension, and securities firms to voluntarily contribute dormant assets to the expanded Dormant Assets Scheme. These changes include updating the FCA glossary to reflect definitions from the Dormant Assets Act 2022 and amending the Dispute Resolution: Complaints sourcebook to allow customers of insurers and pension providers to refer complaints about Reclaim Fund Limited to the Financial Ombudsman. The Financial Ombudsman Service concurrently proposes excluding activities related to the scheme from its voluntary jurisdiction. The consultation seeks comments on these proposals by 17 June 2022.
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