FCA To Authorize Funeral Planners Covering 87% Of Market
By Dawood Fakhir (June 17, 2022, 4:26 PM BST) -- The financial watchdog shared the names of 24 funeral plan providers on Friday that will come under its umbrella on July 29 when the sector is due to become regulated.
The Financial Conduct Authority said the two-dozen funeral plan providers hold a combined 87% of existing customer plans. They will be authorized on July 29 if they have fulfilled certain requirements the watchdog disclosed in their applications, it said.
Emily Shepperd, the FCA's executive director of authorizations, said the regulation will result in higher standards in the market and increase consumer protection.
"As this sector approaches regulation, we want to provide...
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