MORE INFORMATION

See rule 1.3 of the Conduct and Membership Rules

 

CONTACT US

If you have a question please call us on 01926 417365

If You Are a Client Accounting Service Provider (CASP)

In January 2016 our Conduct and Membership Rules introduced changes in the way Member Firms are allowed to use a CASP. These changes were introduced to allow for the clear and accountable management of all client money that falls within the regulation of the Propertymark Associations.

This information must not be used in place of the guidance in the Conduct and Membership Rules. Please see the new rules for further guidance and in particular Rule 1.3. The rules can be found at here.

In order to be accepted as a CASP for a Principal, Partner or Director Member Firm, your company must either be a Principal, Partner or Director Member Firm of one of our divisions or else a firm regulated by the RICS.

In addition:

  1. Your Principal, Partner or Director member firm must own and have sole control each client account;

  2. Client money must be paid directly to your firm’s client account;

  3. Your firm must pay the CMP levy;

  4. You submit an annual accountant’s report for all the client money your company handles;

  5. Your company must hold professional indemnity insurance with no exclusion or limitation in respect of fraud or dishonesty (fidelity cover relating to any third party's own money may be limited or excluded), and have a minimum limit of indemnity of £2m in respect of any one claim.

Depending upon the nature of the landlord and tenant agreements the business owner member firms you handle client money for will also have certain regulatory obligations.

Please feel free to call us on 01926 417 365 for more information, or complete and return a Company Declaration Form and we will contact you.

Please note: If your firm is a regulated by RICS company, then the above requirements do not apply. We accept evidence that a company is regulated by the RICS in lieu of our own regulation requirements.

MORE INFORMATION

See rule 1.3 of the Conduct and Membership Rules

 

CONTACT US

If you have a question please call us on 01926 417365