Regulation

Rules for the registration of firms01 April 2009Version 5 with effect from 31 March 2017

rics.org/regulation

Rules for the Registration of Firms

2 With effect from 31 March 2017

ScopeThese Rules are made by the Regulatory Board in accordance with Bye-Law 2.5.1 under

powers provided by Regulation 7.2.4.

They set out:

• which Firms are required to register with RICS for regulation;

• circumstances in which a Firm is eligible to apply for regulation, even though it is not required to do so;

• the procedure for registration, deregistration and appeal; and

• the obligations of registration.

1. InterpretationIn these Rules, unless the context otherwise requires:

1.1 “Providing a surveying service to the public” means acting to provide a service(s) considered by RICS to be within those which are the responsibility of RICS Professional Groups to professional, corporate, institutional and all other clients.

1.2 “Contact Officer” means the individual designated by the Firm to be the main liaison point between the Firm and RICS and the person authorised by the Firm to submit the Firm’s Annual Return.

1.3 “Firm” means:

a. the whole or part of any body corporate; or

b. a partnership; or

c. a limited liability partnership; or

d. an unincorporated practice of a sole practitioner concerned with the business of surveying or providing other related services, which is regulated by RICS; or

e. an equivalent in any of the world regions to any of the above in a–d.

1.4 “Member” means a Chartered Member or Non-Chartered Member of RICS.

1.5 “Principal” means:

a. a sole practitioner, or

b. a partner, a director or a member of a limited liability partnership, or

c. a person whose job title includes the word “partner” or “Director”, or

d. a person who performs the function of a sole practitioner, a partner, director or member of a limited liability partnership, or equivalent.

1.6 “Regulated Area” means an area in which firms may apply for regulation by RICS

a. “Regulated Area A” means those areas in which registration is compulsory (see Appendix A).

b. “Regulated Area B” means those areas in which registration is voluntary (see Appendix A).

1.7 A “material change” means any change that RICS may reasonably expect to receive. This includes, but is not limited to, the following details:

a. a significant change of Principals (to include RICS members and non-RICS members);

b. a significant change of non-Principal employees (RICS Members only);

c. a significant change of contact details for firms and their offices;

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d. a change to the professional indemnity insurance, such as:

• cancellation or voidance;

• excluded parties or activities; or

• a failure to meet the minimum limit of indemnity required by RICS.

e. where a firm commences or ceases to hold clients’ money; or

f. where a firm commences or ceases to provide general insurance mediation work.

2. CommunicationRICS will communicate with Registered persons of the scheme by any of the following:

a. post;

b. fax;

c. e-mail;

d. telephone; or

e. in person.

3. Eligibility for registration3.1 A Firm is required to apply to register for regulation by RICS if the Firm:

a. is providing surveying services to the public in Regulated Area A; and

b. at least 50% of its Principals are RICS Members.

3.2 A Firm with a Head Office in Regulated Areas A or B may apply to be regulated by RICS if it:

a. is providing a surveying service to the public in Regulated Area A or B; and

b. has at least one Principal who is an RICS Member; and

c. agrees to observe and comply with RICS Rules of Conduct for Firms; and

d. agrees to act in accordance with the obligations set out in RICS’ Royal Charter and Bye-Laws.

4. Procedure for registration4.1 A Firm applying for registration under Rules 3.1 or 3.2 must:

a. provide information to RICS in such form as prescribed by the Regulatory Board; and

b. agree that RICS may share relevant information about the Firm with government or other regulatory bodies as appropriate.

4.2 Upon receipt of an application from a Firm to register for regulation the Head of Regulation may:

a. grant registration;

b. grant registration subject to conditions; or

c. refuse registration, giving reasons.

5. Obligations of registration5.1 A Firm shall:

a. comply with both Rules of Conduct for Firms and these Rules;

b. act in accordance with the obligations set out in RICS’ Royal Charter and Bye-Laws;

Rules for the Registration of Firms

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c. inform the Head of Regulation of any finding against it by any disciplinary or regulatory body, court or statutory authority;

d. inform the Head of Regulation of any finding of insolvency against the Firm; and

e. notify the Head of Regulation within seven days of any change to its circumstances that may affect its ability to meet the requirements of or comply with RICS’ Royal Charter, Bye-Laws or Rules of Conduct for Firms.

5.2 Upon receipt of information about a Firm notified under Rule 5.1 or by other means, the Head of Regulation may:

a. take no action;

b. add or vary conditions to the Firm’s registration;

c. deregister the Firm; or

d. suspend the Firm.

6. Administrative deregistration6.1 A Firm will remain registered until an application for deregistration, submitted in the

prescribed form, has been approved by the Head of Regulation.

6.2 Upon receipt of an application for deregistration, the Head of Regulation will, subject to 6.3 below, deregister the Firm with immediate effect.

6.3 The Head of Regulation may refuse to deregister a Firm if:

a. the Firm meets the mandatory requirements of 3.1;

b. the Firm is the subject of an investigation under the provisions of Bye-Law 5;

c. the Head of Regulation believes that the Firm may have breached the Rules of Conduct for Firms; or

d. it has not paid all registration fees due and/or any fees, costs or fines levied under the Disciplinary Rules.

7. Review and appeal7.1 A Firm may apply for a review by the Registration Panel of the Conduct Committee

of any decision of the Head of Regulation under these Rules within 28 days of the decision. The Registration Panel will follow the process and procedure as set out in the Disciplinary, Registration and Appeal Panel Rules [Part VII].

7.2 Any review under 7.1 above shall be a fresh consideration of the application and the powers available to the Registration Panel in such circumstances shall be the same as the powers available to the Head of Regulation in paragraph 4.2 above.

7.3 A Firm may appeal a decision of the Registration Panel in accordance with the provisions of the Disciplinary Panel, Registration Panel and Appeal Panel Rules [Part VII].

8. Limits on applications for registration and readmission8.1 The Head of Regulation may refuse to consider a further application for registration

where a Firm:

a. has been refused registration within the previous 12 months; or

b. has been subject to administrative deregistration within the previous 12 months.

8.2 A Firm that has been removed from registration as a result of disciplinary action:

a. may not apply for readmission for a period determined by the Disciplinary Panel that took disciplinary action; and

b. must have an application for readmission considered by a Registration Panel

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in accordance with the procedures set out in the Disciplinary, Registration and Appeal Panel Rules (Part V).

9. Publication9.1 RICS may publish information regarding a Firm’s registration status in accordance with

Supplement 3 to the Sanctions Policy – Publication of Regulatory/Disciplinary Matters.

10. Fees10.1 A Firm must pay:

a. the appropriate annual fees for registration set by the Regulatory Board; and

b. any other fees, costs or fines levied under the Disciplinary, Registration and Appeal Panel Rules.

11. Contact officer11.1 A Firm must:

a. appoint a Contact Officer and an alternative Contact Officer and provide their name and contact details to the RICS; and

b. notify the Head of Regulation within seven days of any changes to the Contact Officer or alternative Contact Officer’s details.

12. Material change12.1 If there is a material change to a Firm’s particulars of practice, a Firm must notify the

Head of Regulation and provide full details.

Rules for the Registration of Firms

6 With effect from 31 March 20176

Appendix A

Regulated Area A

United Kingdom

Regulated Area B

All other areas

MARCH 2017/DA/RICS586/RULES FOR THE REGISTRATION OF FIRMS rics.org

Confidence through professional standardsRICS promotes and enforces the highest professional qualifications and standards in the development and management of land, real estate, construction and infrastructure. Our name promises the consistent delivery of standards – bringing confidence to the markets we serve.We accredit 125,000 professionals and any individual or firm registered with RICS is subject to our quality assurance. Their expertise covers property, asset valuation and real estate management; the costing and leadership of construction projects; the development of infrastructure; and the management of natural resources, such as mining, farms and woodland. From environmental assessments and building controls to negotiating land rights in an emerging economy; if our members are involved the same professional standards and ethics apply.

We believe that standards underpin effective markets. With up to seventy per cent of the world’s wealth bound up in land and real estate, our sector is vital to economic development, helping to support stable, sustainable investment and growth around the globe.

With offices covering the major political and financial centres of the world, our market presence means we are ideally placed to influence policy and embed professional standards. We work at a cross-governmental level, delivering international standards that will support a safe and vibrant marketplace in land, real estate, construction and infrastructure, for the benefit of all.

We are proud of our reputation and we guard it fiercely, so clients who work with an RICS professional can have confidence in the quality and ethics of the services they receive.

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