The FCA has published a consultation paper on its proposed approach to the regulation of pre-paid funeral plans. Such plans are due to become fully subject to FCA regulation from 29 July 2022.
The majority of the consultation paper addresses how existing FCA Handbook rules (such as SYSC and GEN) will apply to plan providers but there are also a number of new rules specific to funeral plans. These include a new “Funeral Plan: Conduct of Business sourcebook” (FCOBS).
The deadline for comments on the proposals is Tuesday 13 April 2021.