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In March the complaints commissioner concluded that the Financial Conduct Authority failed to identify risks relating to the owner of the funeral firm Safe Hands Plans, despite receiving information about breaches and other serious risks connected to the company. As a result, Safe Hands went into administration in 2022, with...
In March the complaints commissioner concluded that the Financial Conduct Authority failed to identify risks relating to the owner of the funeral firm Safe Hands Plans, despite receiving information about breaches and other serious risks connected to the company. As a result, Safe Hands went into administration in 2022, with...
That this House notes with concern the increasing number of online scams exploiting vulnerable families during bereavement, including fraudulent links and fake funeral notices; further notes the recent police warnings regarding scammers profiting from tragic events, as evidenced by the exploitation of Southport stabbing victim's funeral and scams targeting funeral homes in Northern Ireland; recognises the emotional and financial damage caused by such deceptive practices; and calls on the Government to work with law enforcement, online platforms, and the funeral sector to introduce stricter measures to detect, prevent, and shut down these malicious online scams and to ensure greater public awareness on how to identify fraudulent activity.
That this House notes with concern the increasing number of online scams exploiting vulnerable families during bereavement, including fraudulent links and fake funeral notices; further notes the recent police warnings regarding scammers profiting from tragic events, as evidenced by the exploitation of Southport stabbing victim's funeral and scams targeting funeral...
To ask the Chancellor of the Exchequer, how many times a breach of the Regulated Activities Order by a funeral plan company was reported to the Financial Conduct Authority in the last three years.
To ask the Chancellor of the Exchequer, how many times a breach of the Regulated Activities Order by a funeral plan company was reported to the Financial Conduct Authority in the last three years.
This is a matter for the Financial Conduct Authority (FCA), which is independent from Government.
The FCA will respond to the Honourable Member by letter, and a copy of the letter will be placed in the Library of the House of Commons.
To ask the Chancellor of the Exchequer, what regular reviews of the funeral plan market his Department undertook between 2001 and 2018.
To ask the Chancellor of the Exchequer, what regular reviews of the funeral plan market his Department undertook between 2001 and 2018.
The government works closely with the FCA to continually review the regulatory perimeter to ensure that the right balance is struck between proportionately protecting consumers, minimising costs on business, and ensuring consumers have access to useful and affordable financial products and services.
Once made aware of consumer detriment in the pre-paid funeral plans sector, the government investigated and confirmed these reports through its 2018 call for evidence. The government then consulted widely with industry and passed legislation in January 2021 to bring all pre-paid funeral plan providers and intermediaries within the FCA regulatory perimeter.
This has ensured that 1.6 million funeral plan customers are, for the first time, protected by compulsory and robust regulation.
To ask the Chancellor of the Exchequer, whether his Department made an assessment of the potential merits of requiring the immediate regulation of funeral plan companies that (a) were founded and (b) changed ownership after the announcement of regulatory change in 2018.
To ask the Chancellor of the Exchequer, whether his Department made an assessment of the potential merits of requiring the immediate regulation of funeral plan companies that (a) were founded and (b) changed ownership after the announcement of regulatory change in 2018.
In January 2021, the government legislated to bring all pre-paid funeral plan providers and intermediaries within the regulatory remit of the Financial Conduct Authority (FCA) from 29 July 2022. This has ensured that, for the first time,1.6 million funeral plan customers are protected by compulsory and robust regulation.
The government consulted widely on the regulation of pre-paid funeral plans. It published a consultation, draft statutory instrument, and impact assessment in June 2019. The FCA also published a consultation and detailed cost-benefit analysis on their proposed regulatory rules for the pre-paid funeral plan sector in March 2021.
To ask the Chancellor of the Exchequer, what assessment he made of the implications for his policies of changes in the number of funeral plan companies following the announcement of regulatory change in 2018.
To ask the Chancellor of the Exchequer, what assessment he made of the implications for his policies of changes in the number of funeral plan companies following the announcement of regulatory change in 2018.
In January 2021, the government legislated to bring all pre-paid funeral plan providers and intermediaries within the regulatory remit of the Financial Conduct Authority (FCA) from 29 July 2022. This has ensured that, for the first time,1.6 million funeral plan customers are protected by compulsory and robust regulation.
The government consulted widely on the regulation of pre-paid funeral plans. It published a consultation, draft statutory instrument, and impact assessment in June 2019. The FCA also published a consultation and detailed cost-benefit analysis on their proposed regulatory rules for the pre-paid funeral plan sector in March 2021.
To ask the Chancellor of the Exchequer, what assessment he has made of the implications for his policies of the proportion of funeral plan companies that failed to gain regulation following the new regulatory regime in the funeral plan market.
To ask the Chancellor of the Exchequer, what assessment he has made of the implications for his policies of the proportion of funeral plan companies that failed to gain regulation following the new regulatory regime in the funeral plan market.
In January 2021, the government legislated to bring all pre-paid funeral plan providers and intermediaries within the regulatory remit of the Financial Conduct Authority (FCA) from 29 July 2022. This has ensured that, for the first time,1.6 million funeral plan customers are protected by compulsory and robust regulation.
The government consulted widely on the regulation of pre-paid funeral plans. It published a consultation, draft statutory instrument, and impact assessment in June 2019. The FCA also published a consultation and detailed cost-benefit analysis on their proposed regulatory rules for the pre-paid funeral plan sector in March 2021.
To ask the Chancellor of the Exchequer, what assessment (a) his Department and (b) the Financial Conduct Authority made of the implications for their policies of the speed of growth of the funeral plan market between 2001 and 2022.
To ask the Chancellor of the Exchequer, what assessment (a) his Department and (b) the Financial Conduct Authority made of the implications for their policies of the speed of growth of the funeral plan market between 2001 and 2022.
In January 2021, the government legislated to bring all pre-paid funeral plan providers and intermediaries within the regulatory remit of the Financial Conduct Authority (FCA) from 29 July 2022. This has ensured that, for the first time,1.6 million funeral plan customers are protected by compulsory and robust regulation.
The government consulted widely on the regulation of pre-paid funeral plans. It published a consultation, draft statutory instrument, and impact assessment in June 2019. The FCA also published a consultation and detailed cost-benefit analysis on their proposed regulatory rules for the pre-paid funeral plan sector in March 2021.
That this House congratulates Caledonia Funeral Aid CIC on receiving a grant of £30,916 from the National Lottery; understands the group plans to use the funding for a one-year project to provide funeral cost and arrangement advice either for the bereaved families or for anyone looking for end-of-life planning support; commends the group for its range of support for people who have suffered a bereavement or planning end-of-life care, including help with funeral planning and expenses; and wishes the group continued success in future.
That this House congratulates Caledonia Funeral Aid CIC on receiving a grant of £30,916 from the National Lottery; understands the group plans to use the funding for a one-year project to provide funeral cost and arrangement advice either for the bereaved families or for anyone looking for end-of-life planning support;...
That this House expresses its full and sincere support for those campaigners and family members whose loved ones died on 17 June 1940 when the troopship HMT Lancastria was sunk off the coast of France with the loss of an estimated 4,000 souls; further supports their efforts to have the Lancastria designated as an official war grave and encourages the Government to commit to further discussions with the government of France to allow the last resting place of the Lancastria achieve this recognition; and requests, in addition, and to relieve the families on-going distress of not knowing how their loved ones died, that all the documentary evidence, much of which was suppressed at the time of the tragedy, is placed in the public domain without further delay.
That this House expresses its full and sincere support for those campaigners and family members whose loved ones died on 17 June 1940 when the troopship HMT Lancastria was sunk off the coast of France with the loss of an estimated 4,000 souls; further supports their efforts to have the...