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
FG 21/3 – client objectives
Alistair MacDougall Compliance Drawdown, FCA, ML, Pension, Pension Transfer, PI, transfer
Following on from our previous articles on FG21/3, we will look today at another of the interesting areas covered by the guidance. It goes without saying that the guidance itself is helpful, reiterating and emphasising previous rules and guidance and clarifying some areas that were arguably fuzzy before. However, as well as the actual content, […]