UK Gov't Floats Plans For FCA To Regulate Funeral Industry

Law360, London (June 3, 2019, 12:28 PM BST) -- The British government has announced plans to bring the sale of pre-paid funeral plans under the remit of the Financial Conduct Authority, amid concerns that some companies are pressuring mourning families to make unsuitable purchases.

“Shameful” high-pressure and misleading tactics used in the sale of funeral plans will be outlawed under the proposals, City Minister John Glen said as he launched a consultation into the planned regulation. Companies found guilty of disreputable behavior could face fines and criminal charges.

The regulation is designed to ensure the market is competitive and that consumers, who are often elderly and vulnerable, understand what they...

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