Client Money Protection
/ˈklaɪənt ˈmʌni prəˌtɛkʃən/
Definitions
- (n.) A regulatory scheme ensuring that funds received from clients by professionals (e.g., solicitors, estate agents) are protected from misuse or insolvency, safeguarding client interests.
The estate agent must comply with client money protection rules to ensure tenants’ deposits are safe.
Forms
- client money protection
Related terms
See also
Commentary
Term commonly occurs in jurisdictions with rules governing the handling of client funds by regulated professionals; important for protecting clients from financial loss due to mishandling or insolvency.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.