The journey to new regulation

words: Mark Moran, Golden Charter
FCA regulation

With the release of the final set of rules, Mark Moran, Golden Charter’s Director of Sales, discusses the journey to Financial Conduct Authority regulation of the funeral planning market in July 2022, what funeral directors need to do now and how Golden Charter is here to support you.

Understanding the journey

We were pleased to see the FCA release its final set of rules, giving us the information we need to map out our path to regulation.

We can embrace the requirements as an established funeral plan provider working with trusted independent funeral directors. We’ve been building towards this for some time, with our policies on vulnerable customers and treating customers fairly, and introducing our funeral plan handbook and funeral director agreement.

While there are some changes, we believe that the vast majority of funeral directors act in the best possible interests of families, so are already well prepared.

Plan provider authorisation

We know that you continue to face an extremely busy time, and we are aware implementing CMA legislation will be front of mind for many just now.

Golden Charter will apply to the FCA to become directly authorised, something that you also have an option to do, although it’s unlikely to suit the majority of funeral directors.

This is why we’re working closely with our funeral director partners to develop processes that allow you to continue offering plans while relieving you of much of the regulatory compliance burden and costs that becoming directly authorised would entail.

Supporting you on the journey

Having reviewed the policy, and discussed key areas with the FCA, our regulation team has created a Guide to FCA regulation – Part 2, available for the benefit of our funeral director partners.

While for most of you there is no action to take now, we understand you may have questions. The document therefore details key requirements, and outlines how we can support you to make the best decisions for your business.

You can see the guide at or request it from your business manager, who is on hand to support and guide you every step of the way.

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