RICS prepares to overhaul self-regulation

Members of the RICS will decide whether or not the regulatory regime of the organisation should be overhauled tomorrow.

The RICS has called on members to back the overhaul and votes will be counted after an EGM.

In an email sent out to members of the organisation it has been made clear that the RICS’ role as a self-regulatory body was no longer working effectively and that the organisation was ready to move with the times. The email was entitled, "Why voting yes to a simpler and clearer regulatory regime will help to transform the profession".

It read: “Members have complained that the current rules and process are inflexible, over-complex, hugely bureaucratic and unresponsive to the areas in which they work. Old style self-regulation no longer had public confidence.”

The email added that the change would be “essential” if public confidence was to be maintained and said: “Our aim now, with your agreement is to transform the RICS’ regulatory framework. We plan to build on the lessons learned from other professional bodies and have created what we think is a regulatory regime that members will understand and be proud to support and publicise.”

A senior source close to the RICS revealed that if the members vote in favour of the changes they will include bringing in non elect members and keeping members of the board on for a three-year period instead of the current one-year stint. “The hope is to bring in non elected members for their expertise in a certain area to keep things in check and get things running more smoothly,” he said.