Child Trust Fund injustice to end under Government plans

For firms that administer or invest CTF assets, the practical focus will be on how attorney, deputy or equivalent authority is evidenced, how capacity is assessed and recorded, and how vulnerable-customer safeguards are maintained without creating unnecessary friction. Compliance teams should treat this as a forthcoming change rather than an immediate rule: monitor HMT and legislative detail, map affected customer journeys, review account terms and authority-verification processes, and brief front-line teams on escalation routes. Firms should also consider data-sharing consents, complaint handling, record retention and consistency with vulnerable-customer and consumer-duty expectations.

The opportunity is to improve outcomes for a historically underserved group and reduce complaint and remediation risk, while preserving fraud and financial-crime controls. Action now: assign ownership, assess operational readiness, prepare training and communications, and engage legal/professional-deputy stakeholders before final requirements are confirmed.