Update from Nigel Clarke, Independent Chair of RICS Standards and Regulation Board

The last few months have marked some significant steps in the work that RICS and the SRB are doing to strengthen the trust in the surveying profession and protect the public interest. We've made substantial progress in several key areas, from enhancing global valuation standards to strengthening regulatory oversight.

I believe these and other forthcoming developments are crucial for ensuring the trust and confidence of our members, stakeholders, and the wider public in the work we do.

Recruitment to support the SRB

I am pleased to report that recruitment has now concluded to two sub-boards which will support the SRB in our work.

The formation of Valuation Assurance Committee (VAC) represents one of the main recommendations arising from the Independent Review of Real Estate Investment Valuation. VAC will oversee the regulatory quality assurance framework for more than 16,000 RICS-registered valuers and 2,500 RICS-regulated firms internationally that offer valuation services.

The Dispute Resolution Appointments Board (DRAB) is also now in place, chaired by former RICS President Amanda Clack FRICS who took up the post in October 2024. This Board will monitor and provide RICS Dispute Resolution Service (DRS) with counsel and advice on how best to carry out its work, and act as the ultimate decision-maker in the investigation and escalation of complaints raised against dispute resolvers and others appointed by DRS.

SRB has also created a Pilot Consumer Working Group, in line with the Bichard recommendations. This group has begun work on a number of issues in order to ensure that consumer views can properly inform decision making around standards and the core function of working in the public interest.

Global standards

Launching last month, the latest Red Book Global Standards set out mandatory practices and guidance for RICS members conducting valuations. This edition follows extensive consultation with over 200 individuals, firms, and organisations, and I’d like to thank all those who contributed. Your efforts support our members to deliver exemplary work and facilitate our commitment to maintaining high professional standards in valuation delivery worldwide.

Strengthening RICS’ regulatory operations

Earlier this year, a Disciplinary Panel of the RICS Regulatory Tribunal considered allegations against Ms Emma Walker and her firm EW Estates Ltd, resulting in the strongest possible regulatory action – expulsion of Ms Walker and de-registration of the firm from RICS membership.

This case highlighted that RICS is not immune from those who act fraudulently. It brought into focus the numerous checks and balances which were in place, but did not identify the false assertions made by this former member on this occasion.

Following this decision, the SRB committed to a detailed review of the case and the relevant regulatory functions. Our review focussed on the RICS’ operational regulatory activities, whether they are effective and fit for purpose, and any further improvements that may be needed to strengthen trust in the profession. This was a necessary step to assure the wider profession and other stakeholders that RICS is undertaking its regulatory functions effectively. You can explore the SRB’s recommendations here: Strengthening RICS’ regulatory operations.

Looking ahead

In this coming year, I, along with the wider RICS leadership, will continue to engage with members on the issues that matter to them. This will include member consultations on important topics such as the Home Surveys and responsible use of artificial intelligence, among others. I encourage you to look out for these opportunities to voice your ideas and concerns, all the while helping to shape the future of our profession.