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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

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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.

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