The 4 Basic Steps to Property Sourcing Business Compliance Setup

compliance Mar 13, 2022

 

We've created this short video blog series to give you an insight into the first basic steps to setting up your Property Sourcing Compliance.

Having these registrations does not mean that your sourcing business is fully compliant but they are essential to have in place before you operate.

 

Step 1: PI or Professional Indemnity Insurance

 

Step 2: Joining the Industry Redress Scheme – 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's 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 compliant business setup you can plan the next steps around the day to day running with AML Compliance, Data Protection Principles, Consumer Protection, Electronic Communications and much more.

Anti-Money Laundering Regulations and checks are becoming more and more stringent and failure in understanding can result in large fines, loss of your business or even prison. 

We've put together a range of courses to help you through the maze, which includes document packs, explainer videos and much more - we've copied our new courses below depending on where you are on your sourcing journey:

 

Getting started with Property Sourcing?

We've recently launched our new course to help anyone looking to start their property sourcing or deal packaging venture, to give you insight into what exactly it takes, time involved, and how much it costs - find out more on our course here: 

Get 15% off our new course - Introduction to Sourcing 

 

Already running your business?

We've got the course just for you! It will take you through from setting up everything you need to get your business running compliantly, through to day-to-day processes - so you know exactly what you need, why you need it, and when you need to use it!

You'll also get a full range of legally required document templates and additional bonus ones for day-to-day activities - find out more here: 

Limited 15% launch offer - Complete Sourcing Bundle

 

Happy Sourcing!

PSC Team

 

 

Looking to get some questions around your business answered? Arrange a free 15 minute chat with Tina to see how we might be able to help.

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