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Client Money Handling Procedure and Client Money Protection Scheme

 

Hough Gould is a Member of the RICS Client Money Protection Scheme and an RICS Registered Firm.

As from the 1st April 2019 we are required to publish our Client Money Handling Procedure on our Website. Our procedures are in accordance with the RICS Client Money Protection Scheme details of which can be downloaded here

The RICS operates the Client Money Protection scheme (CMP scheme) in the UK. This scheme provides protection, as a last resort, in the unlikely event that the Firm is unable to repay a client’s money, up to the limits and exceptions set out in the scheme rules.

The RICS’ CMP scheme is split into two parts:

  • General client money protection, covering money held by firms undertaking any surveying activities (Client Money Protection for Surveying Services); and
  • Residential agency activity in England protection, covering areas under the Client Money Protection Schemes for Property Agents (Approval and Designation of Schemes) Regulations 2018 ( Client Money Protection for Residential Agents.

Hough Gould do not carry out any business relating to residential agency.

The Scheme rules are available to view via the RICS Website link above. The RICS is able to answer questions about the RICs Client Money Protection scheme, and can be contacted to enquire about or submit a possible claim to the RICS Client Money Protection scheme.