Regulation of pre-paid funeral plans

6 July 2021 Shirley McKenzieCompliance

We have received the following from the FCA:

“The FCA will regulate the sale and administration of pre-paid funeral plans from July 2022. We have today published:

Our Policy Statement which sets out the majority of our final rules.
A Consultation Paper which covers proposed rules on resolution and access to the Financial Services Compensation Scheme in the event of regulated firm failure.

Our regulation will lead to higher standards in the market and improve consumer protection.

You can find out more about Funeral Plans regulation at our dedicated firms webpage. Information for consumers is also available on our website. “

Useful Links

Regulating the funeral plans sector: what you need to know: https://www.fca.org.uk/firms/regulating-funeral-plans

For intermediaries: https://www.fca.org.uk/firms/regulating-funeral-plans-sector-what-you-need-know/intermediaries

Consumer page: https://www.fca.org.uk/consumers/funeral-plans

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