Daniel Hobbin Estate Agents Torquay

Client Money Protect (CMP) Compliance Policy

CMP membership no: CMP009926

Last modified: July 08, 2024

CMP Certificate

Daniel Hobbin Estate Agents Ltd prioritizes our clients' funds' safety and security. As part of our commitment to upholding the highest standards of financial integrity and transparency, we are proud members of Client Money Protect (CMP). This page outlines our responsibilities and measures to ensure full compliance with CMP requirements.

What is Client Money Protect (CMP)?

Client Money Protect (CMP) is a government-authorized client money protection scheme. It ensures that clients' money is safeguarded in the event of a letting agent misappropriating funds. This scheme is crucial for maintaining trust and confidence in the property management industry.

Our Responsibilities

As members of CMP, we adhere to strict guidelines and responsibilities to protect our clients' money. These responsibilities include:

  • Segregated Client Accounts: We maintain segregated client accounts separate from our business accounts. This ensures that clients' money is never mixed with our operational funds.
  • Regular Audits and Reconciliations: We conduct regular audits and reconciliations of our client accounts to ensure accuracy and integrity. This helps in promptly identifying and addressing any discrepancies.
  • Transparent Record Keeping: Detailed records of all transactions involving client money are meticulously maintained. These records are available for inspection to ensure transparency and accountability.
  • Secure Handling of Funds: Client funds, including rent payments and deposits, are handled with the utmost care. We use secure banking practices to manage these funds responsibly.
  • Compliance with Legal Standards: Our company adheres to all relevant legal and regulatory requirements regarding the handling of client funds. This includes compliance with Anti-Money Laundering (AML) regulations and other financial legislation.

How We Protect Your Money

  • Ring-fenced Accounts: All client funds are held in ring-fenced accounts protected from business liabilities. This provides an additional layer of security for our clients' money.
  • Insurance Coverage: In addition to CMP membership, we have comprehensive insurance coverage to protect client funds against unforeseen circumstances.
  • Regular Training: Our team undergoes regular training to stay updated with the latest regulatory changes and best practices in client money management.

Your Rights as a Client

As a client of Daniel Hobbin Estate Agents Ltd, you have the right to:

  1. A clear and transparent statement of your account will be provided.
  2. Obtain detailed information regarding your money's transactions.
  3. The CMP scheme ensures the protection of your funds.
  4. If you have concerns regarding the handling of your funds and feel we have handled your complaint incorrectly, you can contact CMP directly.

Contact us

If you have questions or concerns about how your money is handled, please contact us. We are committed to managing your funds securely and transparently. You can reach us by telephone at 01803 921 456 or by email at [email protected].