Thursday 18th January 2018 - London - bookings now being taken - as at 14/12 - just 6 places now available
A recent report showed that just 0.2% of Suspicious Activity Reports made in the last 18 months were made by estate agents - this may indicate that estate agents are not taking their responsibilities under Money Laundering Regulations seriously enough.
In addition it is now a requirement (from November 2017) that relevant personnel in an estate agency business are checked and approved by HMRC under Money Laundering Supervision.THE MONEY LAUNDERING , TERRORIST FINANCING & TRANSFER OF FUNDS (INFORMATION ON THE PAYER) REGULATIONS 2017
If you think the title is a mouthful - wait for the details!!
The new regulations make significant changes to Money Laundering compliance regimes and extend sales agents due diligence to include buyers as well as sellers.
It also imposes a much tougher regime in respect of risk assessments, PEP checks and identifying the source of funds.
HMRC have issued interim guidance for estate agents - you can download here:
This programme will help you comply.
CONSUMER PROTECTION REGULATIONS 2008
These apply to both sales and lettings. They are wide reaching and challenging to comply with.
The industry is currently paying out £millions in "compensation" for easily avoidable breaches.
You owe it to yourself, your staff and your business to ensure you are up to date and operating compliantly.
WHY YOU AND YOUR TEAM SHOULD ATTEND
Consumer Protection and Money Laundering Regulations are two of the most important sets of regulations that apply to the sales and lettings industry and amongst the most testing to comply with.
The cost in terms of redress and loss of goodwill by failing to comply is something that no sales or letting agent should put themselves at risk of.
Failings are estimated to be costing the UK sales and lettings industry literally millions of pounds in ex gratia payments.
Money Laundering Regulations place seven key requirements on agents in order to be compliant.
One of the seven mandatory requirements is to ensure that all staff are trained and aware of their responsibilities.
This programme will highlight the potential issues and offer practical solutions and tips to help you operate both commercially and compliantly.
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