Earlier this year, Dame Janet lodged a complaint with ministers expressing her concern that the SRB (Strategic Review Board) had been marginalized and that a government review of Rics (Royal Institution of Chartered Surveyors) was necessary. However, last week, she was called to a meeting with Rics management, and fearing her imminent dismissal, she resigned beforehand. In a joint statement released by the outgoing board members, who decided to follow Dame Janet’s lead and resign, they asserted that she was effectively being dismissed for whistleblowing and merely telling the truth. The statement also criticized the Rics leadership for viewing her actions as an offense rather than a moral and professional duty. This situation mirrors that of the independent directors in 2019 who were sacked for calling out wrongdoing, subsequently leading to investigations, independent reviews, and the departure of the CEO in 2021.
A previous review conducted by Lord Bichard, a Whitehall mandarin, called for a significant governance overhaul at Rics. This included granting greater autonomy to the SRB. Rics executives and the SRB mutually agreed upon a framework to achieve this. However, the SRB claims that within six months, this agreement was shattered when the responsibility for standards, along with the majority of staff and budget, was transferred away from the board and given to the representative side. According to the SRB, this decision was a deliberate attempt to diminish the independence and authority of the regulator within RICS, essentially returning power to other entities.
In response to these developments, Rics expressed its strong belief in robust self-regulation in the public interest. The organization acknowledged and appreciated the contributions made by Dame Janet and her colleagues on the SRB in various areas such as the establishment of new Rules of Conduct, fire safety, and valuation. Rics assured that its activities continue without interruption, emphasizing the continuity of regulatory functions. The organization also stated that they have commenced the search for a replacement chair and board members and are looking forward to collaborating with them in driving forward Rics’ transformation program.
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