Royal Institution of Chartered Surveyors strengthens regulatory functions
Date postedJanuary 23, 2025
Following a discipline case related to fraud, the Royal Institution of Chartered Surveyors (RICS) has undertaken a comprehensive review to strengthen its regulatory framework. The Standards and Regulation Board (SRB) has recommended several measures, including enhancing communication about the SRB's role to members and the public, improving data verification processes to ensure accurate member information, and reviewing regulatory requirements for regulated firms, such as maintaining professional indemnity insurance. Additionally, the SRB suggests that the newly established Pilot Consumer Working Group assess the broader consumer protection framework and propose enhancements to existing safeguards.