FPCOB 1 Application and purpose

1. (1)

   The Funeral Plan: Conduct of Business sourcebook (FPCOB) is the specialist sourcebook for regulated funeral plan activities.

2. (2)

   FPCOB is relevant both to funeral plan providers and funeral plan intermediaries.

3. (3)

   FPCOB applies as described in this chapter unless the application of a chapter, a section or a rule is described differently in the chapters, sections or rules in FPCOB.

The purpose of FPCOB is to set out the detailed obligations that are specific to regulated funeral plan activities and the connected activities carried on by firms. FPCOB 17 refers to other high-level obligations in the FCA Handbook that apply to firms, for example, PRIN, GEN and SYSC.

The regulated activities of entering as provider into a funeral plan contract and carrying out a funeral plan contract as provider apply in relation to funeral plan contracts under which the provider undertakes to provide, or secure that another person provides, a funeral in the United Kingdom (article 59(2) of the Regulated Activities Order and see PERG 2.4.2AG).

A funeral plan provider that wishes to appoint an appointed representative to distribute its funeral plan contracts should ensure that the regulated activities covered by the appointed representative’s appointment fall within the scope of the firm’s Part 4A permissions or are otherwise excluded from being regulated activities when carried on by the firm (see SUP 12.4.1AG).

Guidance on the application provisions is in FPCOB 1 Annex 1.

1. (1)

   In this sourcebook, rules may apply by reference to the customer or covered individual under a funeral plan contract, or to both.

2. (2)

   The definition of customer includes a prospective customer under a funeral plan contract.

3. (3)

   Reference to the covered individual is to the individual on whose death a funeral will be provided or secured under a funeral plan contract or prospective funeral plan contract. The covered individual under a funeral plan contract will not necessarily be the same person as the customer (article 59(2)(b) of the Regulated Activities Order).

Where the rules in this sourcebook require a firm to disclose information to a customer, the firm should also consider:

1. (1)

   whether it should disclose the same information to the covered individual (where different from the customer) in accordance with its obligations under Principle 7; and

2. (2)

   if it considers that disclosure should be made to the covered individual, whether it requires the consent of the customer in order to make that disclosure.

Certain rules in this sourcebook apply by reference to the conclusion of a funeral plan contract, which means the entering into of the funeral plan contract.