LEADING FUNERAL PLAN PROVIDER REACHES FINAL STAGE OF FCA APPROVAL PROCESS

LEADING FUNERAL PLAN PROVIDER REACHES FINAL STAGE OF FCA APPROVAL PROCESS
Pure Cremation Delighted that FCA is ‘minded to approve’ Application

Pure Cremation, a leading provider of funeral plans in the UK, is delighted to receive confirmation that the FCA is ‘minded to approve’ its application for authorisation and with that provide regulated funeral plans from 29th July 2022.
The direct cremation pioneer is one of only 24 companies to have so far reached this stage in the approval process.
As part of the move to regulation by the Financial Conduct Authority (FCA), all funeral plan providers have had to submit applications for approval, supported by detailed scrutiny to ensure they comply with the stringent regulations being imposed.
The final announcement will be made on July 29th 2022, for all funeral plan providers, from which point the FCA will require funeral plan companies to provide far stronger consumer protection. All promotions will need to be clear, fair and not misleading, with funding of funerals based on a dedicated trust ensuring there is sufficient solvency to ensure a customer can be confident their funeral will be funded whenever it is needed.
Paul Thilo, Managing Director of Pure Cremation Financial Planning Ltd commented: “As the market leader for new funeral plan sales in 2021 we are delighted to have received the “minded to approve” confirmation from the FCA. This is important for both our customers and us as a company. We are now continuing to work with the FCA to ensure all necessary requirements are met as we enter the final stages of the approval process for final approval on the 29th July.”
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Editor’s Note: For further information contact Celeste Clarke at Century PR on 07799064066 or email celeste@centurypr.co.uk.