FCA to regulate pre-paid funeral plans

The Treasury recently announced proposals to regulate pre-paid funeral plan providers under the Financial Conduct Authority (FCA), amid evidence of poor conduct, misleading sales tactics and consumer detriment. The funeral plan market has seen impressive growth in recent years, with sales increasing 200% between 2006 and 2018. However, a recent call for evidence raised concerns around the treatment of customers, with providers employing high pressure and misleading tactics with the aim of persuading potentially vulnerable customers to buy the funeral plans.   The proposals detail that...