Addleshaw Goddard LLP > News > AG advises Reclaim Fund on expansion of the UK Dormant Assets Scheme

< News

27 October 2025

Share Print

Addleshaw Goddard advises Reclaim Fund on expansion of the UK Dormant Assets Scheme into the Investment and Wealth Management sector

London, United Kingdom – Addleshaw Goddard has advised Reclaim Fund Ltd (RFL), the HM Treasury-owned, FCA-regulated sole operator of the UK Dormant Assets Scheme (the Scheme), on the successful expansion of the Scheme into the Investment and Wealth Management sector, marking a major milestone in the evolution of the Scheme and its contribution to social and environmental causes across the UK.

The expansion, recently announced by RFL, enables investment and wealth management firms to participate for the first time — with Jupiter, J.P. Morgan, Janus Henderson and Schroders joining more than 50 banks, building societies and insurers already participating in the Scheme. The move is expected to unlock millions of pounds in dormant assets for good causes, while safeguarding the rights of asset holders to reclaim their funds at any time.

We are proud to have supported RFL on this landmark development for the UK Dormant Assets Scheme. Expanding the Scheme into the Investment and Wealth Management sector represents a further significant step forward in mobilising unused capital for the benefit of social and environmental causes, while maintaining robust consumer protections.

Ben Koehne

Head of Financial Services Sector at Addleshaw Goddard

“This expansion demonstrates how the financial services industry working closely with RFL as operator of the Scheme, with the support of Government and regulators, can collaborate to align legislation and regulation with stewardship and social purpose.”

Addleshaw Goddard advised RFL on the legal, regulatory and operational aspects of the Scheme’s expansion into the new sector, working closely with RFL in engaging with industry bodies, to develop a framework that enables voluntary participation and full restitution for asset owners.

The Addleshaw Goddard team is being led out of London by Corporate Partner and Head of Financial Services Sector Ben Koehne, working closely with Legal Director Jonny Davies and Associate Natasha Stafford, supported by specialists from across Addleshaw Goddard’s financial services team, including, amongst others, Financial Regulation Partners Paul Anderson and Lorna Finlayson and Legal Director Alice D’Mello.

Since its launch in 2011, the Scheme has released over £1 billion to good causes. It is anticipated that the latest expansion could unlock an additional £440 million for financial inclusion, financial capability and other initiatives set out in the Government’s 2025 Dormant Assets Strategy.