Compliance Monitor
FCA warns consumers against using two funeral plan providers ahead of July deadline
By Neasa MacErlean
The FCA is
“strongly”advising consumers against buyingfuneral plans from two providers that have not been conforming to itsauthorisation procedures. The Financial
Conduct Authority takes on regulatory responsibilityfor funeral plan providers from 29 July. As of that date, an unauthorisedfuneral
plan provider “will be committing a criminal offence if it attempts tosell or administer a funeral plan contract”, says the
FCA in an
explanation of the change.