Learn from the most frequent compliance errors that result in hefty penalties from local councils.

1. Expired Certificates

The most common mistake is allowing CMP certificates to expire without renewal. Even a single day of non-coverage can result in fines.

2. Inadequate Coverage

Ensuring your CMP coverage amount matches the maximum client money you hold is crucial. Underinsurance is a serious compliance issue.

3. Poor Record Keeping

Failing to maintain proper audit trails and documentation can lead to penalties during compliance inspections.