Safe Hands Plans: Insolvency

Treasury written question – answered at on 15 April 2024.

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Photo of Nick Smith Nick Smith Shadow Deputy Leader of the House of Commons

To ask the Chancellor of the Exchequer, with reference to the oral question from the hon. Member for Blaenau Gwent of 19 March 2024, Official Report, column 794, when he expects the Financial Conduct Authority will complete its investigation into Safe Hands Ltd.

Photo of Nick Smith Nick Smith Shadow Deputy Leader of the House of Commons

To ask the Chancellor of the Exchequer, with reference to his oral contribution in response to the question from the hon. Member for Blaenau Gwent of 19 March 2024, Official Report, column 794, if he will commit to an Independent Review of the funeral firm Safe Hands Ltd.

Photo of Bim Afolami Bim Afolami The Economic Secretary to the Treasury

The Treasury and FCA have worked closely throughout the process of bringing the pre-paid funeral plan sector into regulation, as well as during the implementation of the new regulatory framework.

On 11 October 2023 the Serious Fraud Office (SFO) announced that it was conducting a criminal investigation into Safe Hands Plans Limited. As I am sure you will understand, I am unable to comment on this ongoing investigation.

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