FCA sets out proposals to improve standards in funeral market

Better protect consumers

Sophie King
clock • 3 min read

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...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

Majority of UK wealth management sector eyes acquisitions this year

Majority of UK wealth management sector eyes acquisitions this year

Continued appetite and momentum in M&A space

Isabel Baxter
clock 30 June 2025 • 3 min read
How can firms improve client engagement with wealth products?

How can firms improve client engagement with wealth products?

Consumer first focus; Simplifying prodcut information

James Wood
clock 30 June 2025 • 4 min read
Verso rejects platform incentives model, says adoption must be earned

Verso rejects platform incentives model, says adoption must be earned

Nucleus-built platform rolled out across advice group with no mandated use as consolidator targets £5bn AUM

Sahar Nazir
clock 27 June 2025 • 2 min read