Menu
Regulation of pre-paid funeral plans

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

Don’t forget to check Our View about this article and the Actions Required By You

Regulation of pre-paid funeral plans

Important Note: ATEB news is intended to provide general information ONLY. The content, including any views expressed or guidance provided, does not replace the need to comply fully with FCA Rules and Guidance. Unless you have discussed news article content with ATEB, and specifically how it relates to your circumstances, then ATEB disclaims all liability and responsibility and actions arising from any reliance placed upon it. For the avoidance of doubt therefore, any reliance you place on such information without our consultation is at your own risk.

ATEB Compliance offers compliance and regulatory advice.

ATEB Suitability provides report writing software for the financial services market.

Our View

For information.

Action Required By You

For information.
SUIT - Beautiful Reports
CREATE BEAUTIFUL
SUITABILITY
REPORTS
TRY IT FOR FREE
SUIT - Complete Control
TAKE BACK
CONTROL OF YOUR
SUITABILITY REPORT
PRODUCTION
TRY IT FOR FREE
SUIT - Comp confidence
SUITABILITY
REPORTS
WITH FULL
COMPLIANCE
CONFIDENCE
TRY IT FOR FREE
previous arrow
next arrow

About the Author

Contact Us

Brought to you by

Explore more articles in this category

Other articles that you might be interested in

Black magnifying glass

Consumer Duty – FCA Live and Local events

Compliance , , ,

The FCA have advised they will be hosting a series of Live and Local events across the United Kingdom on the Consumer Duty from 21 February 2023 to 15 June 2023.   Aimed at small and medium sized firms, the events will focus on the Retail Investment and Mortgage sectors and compliance consultants are also […]

Read More
Crop man writing on whiteboard in modern office

Advice – Simplified?

Compliance , , , , ,

 The FCA has published proposals for a simplified advice regime, but don’t get too excited – just yet.     At the end of November 2022 the FCA issued another Consultation Paper – CP22/24 – the consultation period ends on 28 February 2023. Its title – ‘Broadening access to financial advice for mainstream investments‘ – doesn’t […]

Read More
Copyright © 2023 FCA

PS23/1 – Extended asset retention requirement for firms under the British Steel Pension Scheme consumer redress scheme

Compliance , , , , , , , , , ,

This article will be of relevance to firms who have provided pension transfer advice to members of the British Steel Pension Scheme. Note that imminent action is required.   Background On 27 April 2022, PS22/4 came into force, applying an asset retention on firms that provided BSPS members with advice to transfer between 26 May […]

Read More
https---s3-eu-west-1.amazonaws.com-fta-ez-prod-ez-images-5-2-0-7-1217025-1-eng-GB-FCA2.JPG?v1

PS22/14 – Consumer redress scheme for unsuitable advice to transfer out of the British Steel Pension Scheme

Compliance , , , , , , , , , , , , ,

This article will be of relevance to firms who have provided pension transfer advice to members of the British Steel Pension Scheme. Note that imminent action is required.   PS22/14 is due to come into force at the end of this month and requires firms to review pension transfer advice they have provided to members […]

Read More
A woman in plaid blazer sitting near the table with her hand on her face

Can you advise on Shares?

Compliance , , , , , , , ,

What do you do? Your client has inherited some (insert company name) shares and she asks you, as her trusted financial planner, what to do with them.   Do you tell her that you don’t advise on individual shares and recommend that she goes to a stockbroker? But wait, that loses you credibility and might […]

Read More
Load More