Welcome to the
4 Basic Steps to Property Sourcing Compliance
This short video blog will give you an insight into the first basic steps for Property Sourcing Compliance. It does not mean that each area of your business operation will be fully compliant but you need the basic compliance before you move on to the other compliance regulations such as Anti-Money Laundering or AML.
Step 1 – PI or Professional Indemnity Insurance
Step 2 – Joining the Industry Ombudsman – TPO or PRS
Step 3 – Register for Data Protection Supervision
Step 4 – Register for AML (Anti-Money Laundering) Supervision
The Compliance Iceberg
Registering for supervision is not the end of compliance. It is just the beginning. But these basic steps cover your first 4 steps to compliance. If you have any questions or queries please don’t hesitate to get in touch or you can find answers in my Facebook Group – Property Sourcing Compliance Support.
Now that you understand the first 4 basic steps to compliance you can plan the next steps on AML Compliance, Codes of Conduct, Consumer Protection, Electronic Communications and more.
I hold regular 12 Initial Steps to Property Sourcing Compliance Events, follow us on social media to see the latest and book tickets.
I have also written a book Property Sourcing Compliance to help you understand the regulations and what you need to do. You can get your copy here
Anti-Money Laundering Regulations and checks are becoming more and more stringent and can result in large fines, loss of your business or even prison. I have put together AML Compliance packs with my AML Partner Triss McGirr to help you through the maze, which includes document packs, explainer videos and much more. Take a look at the different packs available here…
Thanks for watching and reading!
Sourcing Compliance Specialist