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Emily Shepperd, executive director of authorisations at the FCA, said: "We have worked tirelessly to assess funeral plan providers, under our robust authorisation process. We are pleased that 87% of the market is now under regulation. With our new rules in place, consumers will be better protected when they need it the most."
The Financial Conduct Authority will regulate pre-paid funeral plans, effective from today (29 July), following legislation passed by parliament.
The regulator is authorising 26 providers. Together these firms hold about 1.6 million plans, which make up 87% of the market, it said. "To gain approval to operate in the regulated market, firms w...
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