Heads of terms for unclaimed assets research project
Kage Strategy

 

FOCUS

Kage Strategy will undertake research into: 

  • the current level of unclaimed assets among asset managers 
  • asset managers’ current gone-away client tracing activities and their performance 
  • traceability of firms’ gone-away clients; and 
  • issues around the disposal of unclaimed client assets, including to charity, as provided for by FCA regulations 

Kage Strategy will also review the implications of possible government intervention via the Dormant Assets Commission and successor bodies.

what the firm will provide to Kage STRATEGY

The firm will:

  • provide aggregated data on its retail client portfolio showing asset type, value, age of client, gone-away flag, date of last contact
  • make senior operations and client assets personnel available for interview (including CF10a)
  • have CF10a or other senior client assets personnel available to participate in a roundtable discussion

what KBMSTRATEGY will provide to the firm

Kage Strategy will produce a report on the issues shown above which will incorporate analysis of firms’ data. There will be no identifiable association between each participating firm and data reported or our analysis thereof; comparative reporting between firms will not identify firms and will be distributional only. The report will focus on aggregate reporting and addressing the issues identified at sector level.

 

Timings

Once all participants have agreed to be involved, Kage Strategy will seek to complete the report stages as follows:

  • Complete firm interviews within 4 weeks of commencement
  • Complete analysis of data within 6 weeks
  • Conduct roundtables within 8 weeks
  • Present interim findings within 12 weeks
  • Final reporting within 16 weeks

We expect a final report to be available by the end of September 2016.

REPRESENTATION OF FIRM’S INVOLVEMENT

Kage Strategy will refer to the firm as follows:

  • Promoting the research using firm name and approved logo with potential participating firms . . .
  • with research partners. . . and research partners and supporters
  • In reporting using firm name and approved logo; no reference to firm-level data
  • In final reporting using firm name and approved logo; brief, description of each firm, pre-approved by each firm

use of client data

Kage Strategy will maintain high levels of information and security. Kage Strategy will not receive or hold client data. All analysis will be conducted on anonymised data produced by Assets Recovered or directly from participating firms.