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Video: Right to comply – regulatory review visits
Three years ago, RICS launched a principles-based regulatory régime. Out went a 56 page rule book and in came a short, simple set of principles prescribing how members must conduct themselves in both their personal and professional lives.
Along with those 56 pages went the requirement for firms to provide an annual third-party accountants' report. The new rules brought this function in house.
It meant that all regulated firms, including those which hold clients' money, are subject to regulatory review visits (RRVs). In this programme, we look at the process behind RRVs and some of the work of RICS Regulation.
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