ATOL Reform – Client money segregation is not simple
The CAA’s request for further information as it continues with its consideration of ATOL Reform makes a number of references to ‘simple client account segregation’. But is any form of client money segregation simple, whether presided over by a professional trustee or otherwise? Having had over ten years’ experience in designing and running trust, client […]
ATOL Escrow Accounts – an incremental approach
Decisions about ATOL reform are still under deliberation; and specifics like the lead time into any mandatory segregation and the detail of the segregation options are still a long way off. That leaves many ATOL holders unable to plan or forecast the future for their businesses. Exacerbating that uncertainty is the possibility that fundamental change […]
Client money segregation in the travel industry – better late than never.
Segregation of client money is one of the central tenets of the UK’s Regulatory framework for licensed professionals. Solicitors, investment agents and advisors, accountants, architects, letting agents, insurance brokers and insolvency practitioners are all subject to strict codes and regulations about how client money should be handled and segregated. How then, did the travel profession […]
