1-6 of 6 results for subject:Funerals
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Agreed to on question.
Agreed to on question.
To ask the Chancellor of the Exchequer, what effect the Competition and Market Authority’s proposed extension of the scope of its funeral market investigation to consider the delivery of funeral plans will have on the timing of HM Treasury’s response to its consultation on funeral plan regulation.
To ask the Chancellor of the Exchequer, what effect the Competition and Market Authority’s proposed extension of the scope of its funeral market investigation to consider the delivery of funeral plans will have on the timing of HM Treasury’s response to its consultation on funeral plan regulation.
HM Treasury has analysed the submissions to the call for evidence on pre-paid funeral plans and is currently reviewing the available policy options.
The response to the call for evidence will be published in due course.
The Competition and Market Authority’s proposed extension of the scope of its funeral market investigation to consider the delivery of funeral plans has not had an effect on the timing of this response.
To ask the Chancellor of the Exchequer, when his Department plans to publish its response to its consultation on funeral plan regulation, launched in June 2018.
To ask the Chancellor of the Exchequer, when his Department plans to publish its response to its consultation on funeral plan regulation, launched in June 2018.
HM Treasury has analysed the submissions to the call for evidence on pre-paid funeral plans and is currently reviewing the available policy options.
The response to the call for evidence will be published in due course.
The Competition and Market Authority’s proposed extension of the scope of its funeral market investigation to consider the delivery of funeral plans has not had an effect on the timing of this response.
To ask Mr Chancellor of the Exchequer, with reference to section 3.1 of his Department’s consultation entitled, Pre-paid funeral plans: call for evidence, published in June 2018, what the evidential basis is for the statement that the current framework of self-regulation in the funeral plan sector is not sufficient.
To ask Mr Chancellor of the Exchequer, with reference to section 3.1 of his Department’s consultation entitled, Pre-paid funeral plans: call for evidence, published in June 2018, what the evidential basis is for the statement that the current framework of self-regulation in the funeral plan sector is not sufficient.
The Funeral Planning Authority regulates 95% of the market. The FPA reviews registered providers’ compliance with its code of practice and has the power to terminate membership or levy a fine of up to £5,000 should a firm fail to adhere to its principals. These powers have never been used. Moreover, the voluntary nature of the FPA’s jurisdiction means it cannot prevent firms from trading, and that some firms are currently operating outside of regulation entirely. Where things do go wrong, consumers do not have access to adequate redress or arbitration services.
HM Treasury has conducted meetings with several market participants who have indicated that the current framework of self-regulation is insufficient. Citizens Advice Scotland and Fairer Finance have published reports which analyse the pre-paid funeral plan market. The reports highlight numerous failings in the sector including a lack of clarity for consumers and high pressure and misleading sales activity.
To ask Mr Chancellor of the Exchequer, how many meetings his Department has had with the Financial Conduct Authority on the content in the consultation entitled Pre-paid funeral plans: call for evidence, published in June 2018.
To ask Mr Chancellor of the Exchequer, how many meetings his Department has had with the Financial Conduct Authority on the content in the consultation entitled Pre-paid funeral plans: call for evidence, published in June 2018.
HM Treasury has engaged extensively with the Financial Conduct Authority through a variety of channels in the run up to launching the Call for Evidence on the pre-paid funeral plan market.
Ten minute rule motion for leave to bring in a Bill. Agreed to on question. Presentation and first reading (Bill 112). To be read a second time on 24 February 2017.
Ten minute rule motion for leave to bring in a Bill. Agreed to on question. Presentation and first reading (Bill 112). To be read a second time on 24 February 2017.