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
Have you advised on British Steel pension transfers? Action required!
Paul Jay Compliance 2016, 2018, FCA, Pension, Pension Transfer, protection, transfer
Firms who have advised clients to transfer away from the British Steel Pension Scheme (BSPS) should be well acquainted with the content of PS22/14 by now … … but some don’t seem to be aware that they need to have completed some key activity for clients in scope of the redress scheme. The BSPS […]