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You are viewing the version of the document as on 2024-02-27.

FPCOB 12.1 Application and purpose

Application

FPCOB 12.1.1R

1This chapter applies to a firm in relation to funeral plan provision and funeral plan distribution.

FPCOB 12.1.2G

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).

Purpose

FPCOB 12.1.3G

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.