The Property Services Regulatory Authority (PSRA) is set to host four seminars in October specifically for marts.

The authority said that the seminars will be focused on the statutory requirements of marts’ financial obligations under the Client Moneys Regulations.

These are laws governing firms that hold money for, from or on behalf of a client.

The PSRA is the statutory body with responsibility for licensing and regulating the property services sector (auctioneers, estate agents, letting agents and property management agents) in Ireland.

A spokesperson for the authority confirmed that the seminars are due to take place in Donegal, Galway, Cork and Laois.

"These seminars are being held to assist, support and inform administrative/financial staff, mart managers, accountants/financial advisors, finance committee members and other relevant financial personnel, who may or may not be licensed by the PSRA.

"All marts have been invited to attend one of the seminars," the spokesperson added.

In July, Agriland reported how livestock marts across Ireland were coming under increasing pressure to cut the option of credit availability to cattle buyers.

Although the majority of marts have a policy that all cattle must be paid for on the day of the sale, in some locations, cattle are purchased and are paid for at a later date.

With the significant increase in the value of cattle over the past few months, mart managers told Agriland the PSRA is strongly appealing to livestock marts to review the option of credit availability to cattle buyers.

As the price of cattle has soared, the amount of money turning over at cattle sales has also increased bringing higher risk in cases where cattle leave a mart unpaid for.

Most livestock marts around the country are now taking action to minimise their exposure to risk.