WebPrior to this, a professional body called the Funeral Planning Authority (FPA) oversaw the sector, but its operations ceased once the FCA assumed regulatory control. With this change in mind, let’s examine whether funeral plans are worth offering as part of the holistic financial planning service you provide to your clients. WebMar 25, 2024 · On 2 March 2024, the Financial Conduct Authority (FCA) launched a consultation CP21/4 on its proposals for regulation of the pre-paid funeral plan sector. This follows concerns raised about the conduct and financial soundness of some pre-paid funeral plan providers. Under the proposals, activities involving the provision and …
FCA regulation for funeral plan intermediaries - an introduction
WebJul 29, 2024 · 29/07/2024. FCA REGULATION OF THE FUNERAL PLANS SECTOR FINAL OUTCOME. Dignity Funerals Limited, part of Dignity plc, the UK's leading provider of funeral plans and end of life services, confirms it has achieved authorisation by the Financial Conduct Authority (FCA) under a new rule book for pre-paid funeral plans, which comes … WebJun 4, 2024 · On 3 June 2024, HM Treasury published a consultation on its proposed regulation of pre-paid funeral plans. Under the current regulatory framework, entering into a funeral plan contract as a provider is a regulated activity. However, a provider is excluded from carrying on this regulated activity if the plans into which it enters are either ... oxy acetylene welding outfit
Regulation of funeral plans: are you ready for change?
WebJul 4, 2024 · The regulatory framework for funeral plans is governed by the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 (RAO). Entering into a … Web1.1 A funeral plan contract is a contract under which a customer makes one or more payments to a funeral plan provider, who subsequently arranges or pays for a funeral upon the death of the customer. 1.2 Under the current regulatory framework, entering into a funeral plan contract as a provider is a regulated activity. WebJan 24, 2024 · On 29 July 2024, the FCA will start regulating the funeral plans sector. If you’re a funeral plan provider or intermediary, find out what these regulations mean and … jefferson square apartments cleveland texas