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RICS is looking to tighten the rules governing which firms can apply to register for regulation.

The institution regulates 10,000 firms in the UK and a further 11,000 around the world. Currently a firm can apply to be registered for regulation if it has just one RICS-qualified principal on its member of staff.

Current RICS鈥� rules on registration rules say that 鈥榩rincipal鈥� means a sole practitioner; a partner, a director or a member of a limited liability partnership; someone whose job title includes the word 鈥榩artner鈥� or 鈥榙irector鈥�, or a person who performs the function of a sole practitioner, a partner, director or member of a limited liability partnership, or equivalent.

But having just a single RICS qualified principal 鈥渄oes not provide sufficient assurance that RICS professional standards have adequate influence within the senior management of all firms鈥�, it argued.

The surveyors鈥� trade body is consulting with the industry as it seeks to bump up the number of principals a firm looking to register for regulation has, as well as introducing requirements to clarify the role played by principals within a registered firm 鈥渢o ensure RICS鈥� standards are implemented in the delivery of surveying services鈥�.

It is proposing as a mandatory criterion for registration that a firm must have at least one RICS qualified officer who is a directing principal 鈥� effectively the individual who leads the firm 鈥� and require that 25% of a firm鈥檚 principals who are responsible for surveying services must be RICS qualified.

RICS is also looking to propose introducing the position of 鈥榬esponsible principal鈥�, in addition to the existing role of contact officer, who job is to assume his or her firm鈥檚 dealings with the institute.

鈥淎 responsible principal will have primary responsibility for ensuring that RICS鈥� professional, technical and ethical standards are applied, upheld and supported by an appropriate assurance framework within a registered firm,鈥� the RICS consultation document said.

The closing date for responses to the consultation is 20 April.