Complaints Commissioner/FCA: FCA’s handling of Safe Hands Plans Limited
The Commissioner’s report notes that complainants have raised a large number of allegations about failings on the part of FCA in relation to the firm, a funeral plans provider. The Commissioner reports that FCA failed to adequately monitor the perimeter with respect to the firm and failed to follow up on concerns in a timely manner despite the wider background and, in particular, HMT’s public assurance that it would do so in such circumstances. FCA has published a statement and a formal response in which it notes that it does not agree with the Commissioner, stating that it had limited powers to act against funeral plan providers until 2022 and believes that the steps taken were reasonable and proportionate based on the information the regulator received.
For more information:
- https://frccommissioner.org.uk/wp-content/uploads/The-FCAs-handling-of-Safe-Hands-Issued-11-March-2025.-Published-11-March-2025.pdf
- https://www.fca.org.uk/news/statements/fca-responds-final-report-safe-hands-complaints
- https://www.fca.org.uk/publication/corporate/response-complaints-commissioner-final-report-fca-handling-safe-hands.pdf
