NFoPP Mandatory Regulation Requirements for companies
When members of NAEA, ARLA, ICBA and NAVA have company responsibilities we require them to meet certain company obligations. Members have these company obligations for every company (legal entity) operating in a relevant business area of which they are the principal (sole trader), a full partner (not associate), or a director (listed at Companies House, not Company Secretary). We call these companies principal, partner or director (PPD) firms. Failure to meet company obligations may result in sanctions in line with the NFoPP Sanctions Policy.
Find out which business areas NFoPP regulates here.
In order to maintain professional standards within the association, principal, partner or director (PPD) members must demonstrate that each company meets regulation criteria upon joining, and annually thereafter. Please follow the links below for more information about NFoPP Regulation requirements:
If a company handles client's money (deposits or payments), or entrusts client's money to a third party to manage, then it must also comply with the following requirements:
Please note: For Regulated by RICS companies, or companies regulated by the Law Society or the Law Society of Scotland, the above requirements do not apply. We accept evidence that a company is regulated by one of those organisations in lieu of our own regulation.
MONEY LAUNDERING REGULATIONS
It is a legal requirement for certain businesses to be registered with HM Revenue & Customs for anti money laundering supervision. If you are a Principal, Partner or Director Member, then we require your company(ies) to be registered with HM Revenue & Customs for anti money laundering (AML) purposes if applicable.
If you are a PPD of a company we do not yet know about, or you wish to amend the record of an existing company registered with us, please complete the Company Declaration Form (editable PDF) and return the form to us with the supporting regulation documents, including a copy of your company letterhead.
For further information on company obligations please call 01926 417 365 or email firstname.lastname@example.org.