By Laura Kemp • 11 March 2022 • 10:52
Golden Leaves Funeral Plans has applied for FCA authorisation
We are very aware of the recent media coverage covering pre-paid funeral plans and the imminent arrival of statutory regulation by the FCA. It is understandable that customers will be wanting to be informed about where Golden Leaves are in our journey to date and of course, what is to be expected after regulation arrives.
From July 29 2022 the pre-paid plan market will be directly regulated by the Financial Conduct Authority, and any company selling plans must be directly authorised by the FCA or be an Appointed Representative of that authorised company.
Here at Golden Leaves Funeral Plans, we submitted our application for authorisation by the FCA on October 21 2021 and we are working directly with the FCA to progress it. We are confident that we will be authorised by the deadline of July 29.
The new regulations will ensure industry wide adherence to a comprehensive set of compulsory statutory rules that a will demand a superior quality of service and financial resilience from all companies. As Golden Leaves is the only independent company in the market to be BSI 9001 AND Customer Service Kitemark accredited, this level of professional excellence will be a further extension of the quality service that all Golden Leaves customers have already come to expect.
Golden Leaves Funeral Plans began its regulatory journey over 20 years ago, driving best practice and customer facing principles of conduct by being a founding member of the FPA (the voluntary regulatory body that currently oversees the market). Becoming directly regulated by the FCA, we view as being just another phase in our journey.
We welcome the arrival of FCA regulation as it will ensure better outcomes for clients, ensure that all products are sold correctly and deliver value for money.
It will ensure that all plans are distributed by companies that will have to adhere to the same level of high-quality standards, for the benefit of consumers.
If you do require any further information do email [email protected] or alternatively if you wish to know the status of funeral panning companies’ applications, please visit https://www.fca.org.uk/consumers/funeral-plans/
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Originally from UK, Laura is based in Axarquia and is a writer for the Euro Weekly News covering news and features.
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