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Greater transparency ?

Should the RICS continue to be self-regulating?

I may come as a surprise to many that the RICS is self regulating, in other words it is its own judge and jury. RICS self-regulates, meaning that it operates within it’s own published regulatory framework, rather than being legislated by Government. After the revelations that the last CEO treated the institution like a personal fiefdom, sacking anyone who dared to stand up to him. Should RICS members be happy with continued self-regulation?

In the aftermath of Sean Tompkins' departure following serious failures in governance, a number of reports were commissioned to assure members that the ship was back on an even keel. In one of the reports, the Bichard Report, a recommendation was made, to undertake an independent review of RICS’ governance and effectiveness at delivering against its Charter for the public advantage once every five years.

It therefore came as a surprise that all 10 members of the Standards and Regulation Board, including board chair Janet Paraskeva, recently walked out after it emerged the RICS’ governing council was planning to transfer some of the board’s responsibilties to a new knowledge and practice committee.

Duncan Cartlidge FRICS

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