Looming Regulation for Pre-paid Funeral Plans

From 29 July 2022 operating, selling, or advising on pre-paid funeral plans will become a regulated activity.

The sector will have to ensure they have appropriate and effective controls in place to meet the rules and guidance.

With regulation the FCA aim to achieve good outcomes for all customers who hold funeral plans and want to make sure that customers:

• get the plan they have paid for at a fair price, and it meets their needs; 
• money is looked after and used responsibly; 
• get the information they need to make an informed decision; and
• those selling plans meet their extensive rules  

Cold calling will also be banned. The ban will be straightforward – unless a firm has an existing relationship with the customer, and they would expect to receive a call, the firm cannot call the customer.

Y&R Services Ltd have years of experience working within FCA regulated activity and we offer continuing compliance support, guidance and help to businesses. Our packages are flexible to meet the needs of our clients.

For enquiries contact: Rachel.Sedgwick@yandrservices.co.uk