The Financial Conduct Authority (FCA) has laid out plans to better protect consumers within the funeral plans market.
These rules, which will come into effect from 29 July 2022, will introduce higher standards in the market and will require firms to make sure plans are sold fairly. Under the incoming rules, the FCA will be banning funeral instalment plan products that do not guarantee a funeral. It will ban cold calling and will implement new standards on advertising, as well as banning commission payments to intermediaries to ensure products represent fair value. The FCA will also make sure that those selling funeral plans are subject to a full check on their fitness to operate in a bid improve gove...
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