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Dignity PLC - Birmingham-based funeral services provider - Wins approval from UK Financial Conduct Authority to keep operating its funeral business as a law change it advocated for takes effect.
‘It has been a long road to regulation, starting with Dignity's early calls for statutory oversight of the sector back in 2017,’ says Dignity Chief Executive Officer Kate Davidson. ‘It is extremely positive to see the regulations finally come into effect, which we believe will provide greater protections for customers, and help to create a more stable and trusted market,’ she adds.
From Friday, any provider of funeral services in the UK has to be approved by the FCA, as the regulator announced in February 2021. The policy change bans cold calling and commission payments to intermediaries ‘such as funeral directors,’ it explains.
26 funeral providers have been authorised, while 13 were not authorised and ‘have until October 31 to transfer their plans to authorised firms or refund their customers,’ the FCA says.
Current stock price: 446.50 pence, up 0.2% on Friday
12-month change: down 43%
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