In addition to its Policy Statement (PS21/8: Regulation of funeral plans – Feedback to CP21/4 and final rules) the FCA has also published a Consultation Paper CP21/20: Regulation of funeral plans – Further proposals.
The FCA is consulting on further proposals on the resolution of regulated funeral plan firms and Financial Services Compensation Scheme (FSCS) protection along with additional proposals relating to the regulation of funeral plans; it is asking for comments by 31st August 2021.
CP21/20 looks at firm resilience, aiming to lessen the impact of the failure of a regulated funeral plan firm on the customer. Firms should consider the application of the proposed rules on resolution and access to the FSCS in the event of a regulated firm failure.
Further information can be found on the FCA website here.
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