Client Money Protection Scheme (CMPS) - October 3rd, 2018 by Berni

In April 2019 the government is introducing new statutory requirements for residential property agents requiring that they become a member of an approved Client Money Protection Scheme (CMPS). As it is envisaged that the providers of such schemes will require very specific details of their risk in order to provide cover, we are currently working on an update to provide this information automatically.

Agents working to RICS regulations have already been asked to provide this information by 19th October 2018 (https://www.rics.org/uk/news-insight/latest-news/news-opinion/client-money-mandatory-data-request/). Whilst that is too short notice for us to provide a fully automated feature, we have in the interim compiled a factsheet detailing the best way to obtain the information. We look forward to providing a full feature for this requirement in the very near future.