SAIF Golden Charter

SAIF delegation gives voice to members

Following the Government’s announcement on 1 June of potentially tougher regulation for funeral plan providers, SAIF met with HM Treasury, the Financial Conduct Authority and the Competition and Markets Authority on 7 June

SAIF is at the forefront of advocating for funeral directors with the HM Treasury (HMT), the Financial Conduct Authority (FCA) and the Competition and Markets Authority (CMA), following the UK Government’s announcement on Friday 1 June regarding a funeral sector market study and call for further evidence.

Members of SAIF’s National Executive Committee – Jeremy West, Sean Martin and Terry Tennens – held meetings with the HMT and FCA to discuss pre-need funeral plan regulation and how best to ensure consumers are protected from unscrupulous sellers, as well as how to ensure that any future regulatory scheme is not anti-competitive toward independent funeral directors across the UK.

SAIF’s delegation was welcomed by Dan Rusbridge, Head of the Asset Management Team, and David Reeves of HM Treasury leading the market study.

SAIF will be submitting a National Society response by 1 August 2018, and member firms are invited to contribute to the knowledge gathering.

SAIF’s delegation also met with Roy Bartholomew and Jason Pope from the FCA who expressed their desire to fully engage with the National Society and to see their members input throughout the market study and following the Minister’s decision to collaborate with SAIF in the implementation of the directives.

Click here for the Government’s call for evidence.

Subsequent to the meeting with the FCA and HMT, SAIF’s delegation met with six staff from the CMA including Project Director Stephanie Canet to discuss the separate study on transparency on pricing, competition in the funeral sector and determining quality in pricing and online comparison websites.

SAIF has submitted, on behalf of the National Society, a response to its ‘call for reply’ and this has been accomplished under the skilful input of the team who met the CMA on 7 June plus Paul Allcock, SAIF’s UK Government Liaison Officer; and Alun Tucker, SAIF’s National President.

The CMA has asked that SAIF members be sampled through telephone interviews for their survey that will randomly occur.

We want to assure members that we are engaging these three UK Government departments with professionalism, timeliness and the expertise from our Executive teams from across the UK.

Be assured SAIF is advocating for the best interests of our clients and member firms, that the qualities, expertise and service that independent funeral directors offer are second to none with their community engagement and customer service.

Should you have any questions or concerns, please contact the SAIF Business Centre by email or call 0345 230 6777.