DTY.L Regulatory News (DTY)

Dignity plc

Statement re: CMA's Provisional Decision Report

Dignity plc (Dignity or the Group), the UK's only listed provider of funeral related services, acknowledges the release today of the Competition and Markets Authority's (CMA) Provisional Decision Report (PDR) which Dignity is considering in detail.

Dignity has engaged constructively with the CMA since the market investigation into the supply of services by funeral directors at the point of need and the supply of crematoria services was announced in June 2018 and strongly supports the opportunity to improve standards within the sector and meet the expectations of consumers.

The issue of the PDR will be followed by response hearings this autumn, in which the Group anticipates being invited to participate. The CMA has requested responses to the PDR by 10 September 2020, with a deadline of 30 October 2020 for any final submissions. This is consistent with their revised target date of December 2020, earlier than their legal requirement to issue the Final Decision Report on or before 27 March 2021. 

Greater Choice

Dignity believes there is need for more consumer choice and high levels of quality across the sector. The Group has acknowledged that there is rising consumer demand for lower cost funeral options and has been making considerable steps to provide a wider range of choice for its customers since January 2018.

Leading the call for regulation and higher standards

Dignity has led calls for greater regulation of both at need and pre-paid funeral sectors for some time, while continuing to set the standard for what constitutes best practice in the industry.

The CMA's work in the sector provides a significant opportunity to improve standards and protect consumers.

Dignity believes the funeral industry will benefit significantly from proper regulation to ensure that clients can assume high minimum standards, and effectively assess and compare what a funeral service includes.

Clive Whiley, Executive Chairman of Dignity commented:

"Dignity has engaged openly and collaboratively with the Competition and Markets Authority throughout the funerals market investigation. We will take the time to fully assess the CMA's Provisional Decision Report and its recommendations and will continue to constructively engage directly with the CMA through the statutory process."

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