FPCOBS

Check and Demonstrate Your Firm's Compliance Against Each FPCOBS Requirement:

  • Customer Best Interests Assurance: Verify policies, training, and oversight for transparent communication and escalation, with guidance explaining why this builds trust, prevents harm, and aligns with FCA principles for ethical treatment in sensitive markets.

  • Liability Exclusions Validation: Confirm fair, compliant disclosures supported by staff training and complaints handling, including rationale on why clear exclusions mitigate disputes, uphold legal standards, and enhance customer satisfaction.

  • Record-Keeping Practices Confirmation: Document secure, accurate, retrievable records of interactions, highlighting why this facilitates regulatory inspections, supports accountability, and ensures traceability in funeral plan operations.

  • Conflicts of Interest Management: Verify effective policies, training, and reviews for fair treatment, explaining why proactive identification reduces biases, protects clients, and complies with governance mandates.

  • Payment Shortfall Notices Compliance: Confirm 10-business-day resolutions without penalties and fair cancellations, underscoring why compassionate handling avoids exploitation, meets FPCOB timelines, and fosters loyalty.

  • Trust or Insurance Arrangements Setup: Document segregated funds allocated and safeguarded by independent trustees or insurers, with insights on why this secures customer investments, prevents misappropriation, and demonstrates financial integrity.

  • Contract Delivery Structures: Verify agreements supported by adequate funding, contingency planning, and reviews, including rationale on why this guarantees service fulfilment, aligns with regulatory obligations, and minimises delivery risks.

  • Payment Safeguarding Verification: Confirm segregated arrangements with clear disclosures and audits, highlighting why transparent protections build confidence, enable compliance monitoring, and safeguard against insolvency.

Firms using RegTechPRO experience up to 40% efficiency gains in FPCOBS tracking, with clear guidance on regulator expectations for customer-centric funeral plan management.