Conflict of interest professional statement mandatory from 1 January 2018

Nigel Sellars FRICS

Associate Director of Commercial Property (RICS)

From 1 January 2018, all RICS professionals and regulated firms will be required to follow the global professional statement on Conflict of Interest, 1st edition.

In March this year, RICS released a global and a UK-specific professional statement giving RICS professionals a number of months to familiarise themselves with the new rules. Both standards take on mandatory status from News Years’ Day 2018.

View and download the global professional statement

Confidence and clarity

The global Conflict of Interest professional statement is not geographic or sector specific. It provides greater confidence for end users and increased clarity for RICS professionals because it addresses a number of concerns raised by end users and RICS practitioners globally on matters such as:

  • Definitions of and application of informed consent confidentiality
  • Full disclosure and transparency between parties
  • The practice of ‘‘dual agency” in the UK commercial property investment market
  • Tighter rules around multiple agency relationships

Watch: Stay updated on this new mandatory requirement

Under our bye-laws and regulations, our members must comply with RICS professional statements, in the interest of maintaining the highest professional standards.

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