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
Consumer Duty – FCA information and help
Shirley McKenzie Compliance FCA, PI, Update
The FCA has added to its published information relating to Consumer Duty to help firms with implementation. The most recent addition to the Consumer Duty webpages is an information for firms page to help firms implement the Duty. This explains more on the areas of the Duty that firms have been raising queries […]