A Code of Practice is a written guideline issued by a professional association that lays out ethical standards for a profession, trade, occupation or organisation. We have created a Code of Practice for the property sourcing and deal packaging sector, approved by both property redress schemes, the Property Redress Scheme (PRS) and The Property Ombudsman (TPO) and used as the ‘framework’ for all sourcing agents to meet and follow.
It doesn’t carry the same level of force as legislation and are usually crafted to provide guidance on situations which may occur in a business that could pose potential dangers or outline minimum standards that Members are expected to maintain.
The NAPSA Code of Practice has been almost three years in the creation. It has been written to provide Members with a ‘Framework’ that they can follow to provide a professional and ethical service to their clients.
We will use this to assess the service provided by a Member should a complaint be received from an investor.
The NAPSA Board will consider the Code of Practice when deciding if a member has failed to follow it and the service provided to a client fell below par.
For more information about Disciplinary hearings please refer to our Complaints and Disciplinary Policy.