FPCOB 6.1 General requirements for firms

1This chapter applies to:

1. (1)

   a funeral plan intermediary; and

2. (2)

   a funeral plan provider in relation to the distribution of its own funeral plan contracts.

1In good time before a customer enters into a funeral plan contract:

1. (1)

   a firm must provide the customer with at least the following information:

   1. (a)

      its identity, address and whether it is a funeral plan intermediary or a funeral plan provider;

   2. (b)

      the appropriate statutory status disclosure statement (see GEN 4);

   3. (c)

      the fact that it is included in the Financial Services Register and the means for verifying this;

   4. (d)

      whether it provides a personal recommendation about the funeral plans offered or information;

   5. (e)

      whose funeral plans it offers;

   6. (f)

      the procedures allowing customers and other interested parties to register complaints about the firm with the firm and the Financial Ombudsman Service or, if the Financial Ombudsman Service does not apply, information about any out-of-court complaint and redress procedures available for the settlement of disputes between the firm and its customers; and

2. (2)

   a funeral plan intermediary must also provide the customer with the following information:

   1. (a)

      whether it has a direct or indirect holding representing 10% or more of the voting rights or capital in a given funeral plan provider;

   2. (b)

      whether a given funeral plan provider or its parent undertaking has a direct or indirect holding representing 10% or more of the voting rights or capital in the firm; and

   3. (c)

      whether it is representing the customer or is acting for and on behalf of the funeral plan provider.

1. (1)

   1Where a funeral plan intermediary proposes or advises on a funeral plan contract then in good time before the conclusion of a funeral plan contract and, if necessary, on its amendment, a funeral plan intermediary must provide the customer with at least information on whether the firm:

   1. (a)

      gives a personal recommendation, on the basis of a fair and personal analysis of funeral plans available in the market; or

   2. (b)

      is under a contractual obligation to conduct funeral plan distribution exclusively with one or more funeral plan providers, in which case it must provide the names of those funeral plan providers; or

   3. (c)
      1. (i)

         is not under a contractual obligation to conduct funeral plan distribution exclusively with one or more funeral plan providers; and

      2. (i)

         does not give a personal recommendation on the basis of a fair and personal analysis of funeral plans available in the market;

      in which case it must provide its customer with the name of those funeral plan providers with which the funeral plan intermediary may and does conduct business.