Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, what assessment he has made of the merits of introducing statutory regulation of pre-paid funeral plans.
The provision of a pre-paid funeral plan is defined as a regulated activity and falls within the Financial Conduct Authority’s regulatory remit unless specific exemption criteria are met. This arrangement and these exemption criteria are set out in the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001.
HM Treasury sets the legislative framework for the regulation of financial services, including the provision of pre-paid funeral plans, and continues to keep such exemptions under review.