TPO Canvasses Members over CMP

The Property Ombudsman Scheme (TPO) is canvassing member firms over the provision of Client Money Protection (CMP) insurance.

'Whilst membership of TPO requires all residential sales and letting agents to abide by the TPO Codes of Practice, have Professional Indemnity Insurance, and agents holding clients' money to deposit this money in a separate clients account, it does not currently require residential letting agents to hold CMP,' explains Bill McClintock, chairman of the TPO operating company who is circulating a consultation document to members.