Chartered surveyors are putting their businesses at risk by underestimating the impact of new Financial Services Authority regulations, lawyers have warned.
From January of next year, every surveyor, property managing agent or adviser who is involved with insurance cover will need to be supervised by the FSA.
But many RICS members have not yet applied for authorization in the hope that the government will exempt them.
However, the Treasury has said it has no plans to change the regulations to exempt RICS members.
References: Financial Times 29/05/04 page 2
