FPCOB 12.4 Appointed representatives

1A firm which appoints an appointed representative to distribute funeral plan contracts should prohibit the representative from accepting payments which are payable to a funeral plan provider under a funeral plan contract (other than an FP distribution charge) unless the conditions at FPCOB 12.2.1R are satisfied.

1For the purposes of FPCOB 12.2.1R (1)(c) a funeral plan contract would be entered into at the point that an appointed representative acting as agent of a funeral plan provider bound that funeral plan provider to its terms.

1Where a funeral plan provider appoints another firm to undertake funeral plan distribution in relation to its funeral plan contracts and that firm has an appointed representative who it permits to accept cash payment for that contract, FPCOB 12.2.1(1)(d) 2would be satisfied where the appointed representative receives the cash payment as sub-agent for the funeral plan provider and the contracts which underpin the arrangements ensure this (including the contract between the firm and its representative).