DCMS publishes Dormant Assets Parliamentary Review
The Department for Culture, Media and Sport (DCMS) has published a policy paper setting out its review of the Dormant Assets Scheme (the Scheme) and the Alternative Scheme, covering the period from February 2022 to February 2025. The review concludes that progress to fully operationalise the Scheme has been slower than originally anticipated due to regulatory and technical barriers, however, the insurance and pensions and securities sectors are now fully operational and the Scheme will soon be ready to include eligible assets from the investment and wealth management sector.