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Last updated: 28 Jan 2021

Section 1 - Ensuring our funeral plan customers are protected

As a registered provider with the Funeral Planning Authority (FPA), we must adhere to strict Rules and a Code of Practice, ensuring plan holder funds are looked after safely and the funerals will be carried out as agreed. Unfortunately, families purchasing plans from providers not registered with the FPA are not offered the same protections. With over 30 years' experience in the funeral industry, we’re one of the UK's leading funeral plan providers and customers are at the heart of all we do. Only funeral directors who are members of a recognised UK professional body can offer Golden Charter products.

Our plan holders can be reassured that their funds are safe. Depending on how you choose to pay for your plan, your funds are either paid into the Golden Charter Trust or to a life assurance policy.

Section 2 - Golden Charter welcomes Financial Conduct Authority regulation for funeral plan providers

An amendment to the Financial Services and Markets Act 2000, passed in January 2021, will bring all funeral plan providers under the supervision of the Financial Conduct Authority (FCA). The FCA will now manage a period of consultation and the move towards full regulation over the next 18 months. Companies that want to continue to sell or carry out funeral plans after this point will need to apply to the FCA.

We are a long-standing supporter of compulsory regulation as the best outcome for customers, driving up standards through additional protections and ensuring fair and transparent practices throughout the sector.

Section 3 - Working towards regulation

While full details of the FCA regulatory standards are not yet known, we continue to undertake a great deal of work to ensure our sales activities are compliant with requirements of the Funeral Planning Authority, and that we are ready to adapt to changes future regulation will bring. We have contractual arrangements in place between us and funeral directors which helps to protect customers who purchase a Golden Charter funeral plan, ensuring a guaranteed level of service. We also offer customers the choice of using their local funeral director.

Together with our ongoing work with FCA and stakeholders, this ensures we are in a strong position to meet any potential future regulatory requirements.

Section 4 - Timeframe for regulation

Spring 2021- FCA consultation open

Autumn 2021 - FCA rules announced

Summer 2022 - FCA regulation to begin

Golden Charter is committed to raising the standards of the industry, actively engaging in the consultation stage, and to acting quickly to incorporate all FCA rules once announced.