The Guild of Property Professionals has reported strong engagement with its recent webinar series on the forthcoming Financial Sanctions legislation, with more than 450 members participating throughout April.
Led by Guild Compliance Officer Paul Offley (main picture), the sessions aimed to equip lettings agents with essential guidance ahead of new regulatory requirements taking effect from 14 May 2025.
From that date, all lettings agents will be legally required to carry out UK Financial Sanctions checks and report any suspected breaches to HM Treasury’s Office of Financial Sanctions Implementation (OFSI).
Non-compliance with the updated legislation carries the risk of substantial penalties, including fines and potential legal proceedings.
SIGNIFICANT CHANGE
Offley says: “The introduction of these new regulations is a significant change for the lettings sector, and it was vital that our Members were fully prepared.”
He adds: “The high attendance across the April webinars, with over 450 Members joining us, demonstrates the importance of this topic and our Members’ commitment to upholding the highest standards of compliance. We are delighted with the positive engagement and feedback, reinforcing The Guild’s role in providing timely and essential support.”
The Guild has positioned the webinars as part of its ongoing programme to support members through regulatory change, reflecting growing scrutiny across the property sector as compliance standards continue to tighten.
