FPCOB 12.1 Application and purpose

1A firm (including a funeral plan provider) that has accepted responsibility for funeral plan distribution undertaken by an appointed representative must ensure that the representative complies with this chapter as if it was an intermediary firm (see FPCOB 1.2.4R).

1The rules in this chapter mitigate the risk of loss to customers on the insolvency of a firm engaged in funeral plan distribution. Such a firm cannot receive or handle payments for a funeral plan contract except in some limited circumstances by cheque or 2in the form of cash and can only receive or handle a cash payment if that contract will be effective from the moment of receipt.