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
A closer look at FG 21/3 – finalised guidance on transfers
Alistair MacDougall Compliance FCA, Pension, Pension Transfer, PI, transfer
In our recent article giving an overview of Finalised Guidance (FG 21/3), we indicated that we would pick out a few of the more interesting snippets for a closer look. That is not to imply that the rest of the guidance is of no interest, just a reflection that much of the guidance is a […]