RICS Calls for Input into New Conflict of Interest Standards

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RICS Calls for Input into New Conflict of Interest Standards

A major global review of conflict of interest guidelines for Chartered Surveyors has entered its final phase, with industry stakeholders now being asked to feedback on the final draft, the Royal Institution of Chartered Surveyors (RICS) announced today.

RICS Conflict of Interest Working Group, chaired by independent solicitor Will Glassey, Partner at Mayer Brown, has publically released a final draft of the RICS Conflicts of Interest Professional Statement and is calling on interested parties to contribute their views.

Gary Strong, Director of Practice Standards and Technical Guidance said:

“Conflict of interest is a serious issue, impacting the reputation of our industry. As such, it has been our priority to drive the agenda and ensure that our standards remain fit-for-purpose in a changing world. That’s why this global review into our current standards has been paramount.

“We’ve been working with a wide range of industry leaders from across the real estate, legal and banking sectors to deliver new international guidance that will serve our industry for many years to come. 

“Our panel of industry leaders have been working with us to develop additional mandatory rules and supporting guidance on the identification and management of conflicts of interest across the profession. This will ensure consistency of interpretation of the overarching rule of conduct. The final consultation draft of the new rules is now ready and we urge all industry stakeholders and participants to engage and share their views.”

Antony Townsend, Chair of RICS UK and Ireland Regulatory Board, said:

“This global consultation will capture the views of our members, member firms and consumers on the draft guidance. Market feedback and insight are vital to ensuring that the final standard is relevant, fit for purpose and continues to set the benchmark for fairness and quality in the property sector”.

The global consultation will be open until 1 July 2016 with the new industry standards coming into effect by Autumn 2016. Those wishing to contribute can access the consultation here.  

 

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