Financial Conduct Authority  

FCA lists firms not authorised as funeral plan providers

FCA lists firms not authorised as funeral plan providers

The Financial Conduct Authority has published a list of funeral plan providers which are not authorised from July 29.

The regulator published a list of 14 firms last week (July 22) which it said would not be authorised to sell new plans.

From July 29, all funeral plan providers will need to follow new FCA rules, which include a ban on cold calling and commission payments, as well as changes to appointed representative permissions and high standards on governance and financial resilience. 

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Funeral plan holders will be able to refer complaints about a firm to the ombudsman and will be covered by the FSCS if their provider goes out of business.

The list of firms not authorised are: 

  • Bristol Memorial Woodlands FP
  • Capital Life Funeral Planning Ltd
  • Empathy UK Funeral Plans Ltd
  • Eternal Peace Funeral Plans Ltd
  • Fox Milton and Co Ltd, trading as Unique Funeral Plans
  • Iberian Funeral Plans
  • Mairi Urquhart & Son Ltd
  • Maplebrook Funeral Plans Limited
  • Pride Planning Limited
  • Rest Assured Funeral Plans Limited
  • Seasons Personal Funeral Plans Limited
  • Silver Clouds Later life planning Limited
  • SJP Lichfield Limited
  • Sovereign Lifecare

The regulator advised consumers they should not buy a new plan from any of these firms.

It said: “If you already have a plan with one of these firms, you should get in touch with them to find out what is happening to your plan. Your options might include receiving a refund, or your plan may be transferred to another provider.”

The FCA said the firms are not authorised as they either did not apply for authorisation, withdrew the application or operate outside the UK.

In June, the FCA approved a list of funeral plan providers which cover approximately 87 per cent of existing customer plans.

The FCA said certain firms from the list that applied for authorisation before March 1, 2022 can continue to administer existing plans until October 31, 2022. 

“This is to give these firms more time to wind down their business or find an authorised provider to take on their funeral plans,” it said. 

Last month, advisers cited mixed views on pre-paid funeral plans coming into the FCA’s remit. 

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