Midland firms selling insurance could be the subject of spot checks by the Financial Services Authority.
Around 200 UK firms holding money belonging to their clients will be visited by the FSA to see how they manage their funds.
In April, the FSA said firms needed to do more to meet their obligations and improve the way they deal with client money.
It produced a guide to help firms understand what they need to do and how to do it.
The FSA also plans to launch a web-based training package later this year.
"Mishandling the way client money is stored can put it at risk if the company runs into difficulties," a spokeswoman from the FSA said.
"We give firms two to four weeks notice of our visits so that we can sit down with management and look at their procedures."