FCA rejects funeral provider's application for authorisation

‘Poor sales practices’

Julia Bahr
clock • 2 min read

The Financial Conduct Authority (FCA) has refused authorisation to funeral provider One Life Funeral Planning over concerns about the firm’s ‘poor sales practices’.

One Life could not demonstrate that it was able to meet or comply with the FCA's regulatory standards, the watchdog said.  It added that throughout the assessment of the application, One Life had not shown that it was ready, willing and organised to comply with the requirements of the regulatory system.   During interviews with individuals at the company who intended to hold senior management functions (SMFs), the regulator found that two of the three candidates it spoke to, failed to show that they had the required competence and experience to perform in their potential roles.  Th...

To continue reading this article...

Join COVER for free

  • Unlimited access to real-time news, key trend analysis and industry insights.
  • Stay on top of the latest developments around health and wellbeing, diversity and inclusion and the cost of living crisis.
  • Receive breaking news stories straight to your inbox in the daily newsletter.
  • Members only access to monthly programme 'The COVER Review'
  • Be the first to hear about our CPD accredited events and awards programmes.

Join now

 

Already a Cover member?

Login

More on Regulation

Surge in probate delays following IHT changes

Surge in probate delays following IHT changes

134% rise in yearlong cases

Cameron Roberts
clock 16 January 2025 • 1 min read
BIBA releases 2025 manifesto

BIBA releases 2025 manifesto

Partnering for success

Cameron Roberts
clock 16 January 2025 • 2 min read
Statutory miscarriage bereavement leave report

Statutory miscarriage bereavement leave report

Women and Equalities Committee makes its case

Cameron Roberts
clock 15 January 2025 • 2 min read