Regulation

Nara is a trade association, it is not itself a regulator. However, all Fellows, Associates and Trainee members are required to be a member of a Regulatory Professional Body as a condition precedent of their Nara membership. Our members are therefore regulated by their own professional body. Those professional bodies have the ability to censure, fine or expel from their own membership.

In addition, all Fellows of Nara are also members of the Registered Property Receivership Scheme. This Scheme is a joint initiative between Nara, the Royal Institution of Chartered Surveyors and the Insolvency Practitioners Association. Details of that Scheme can be accessed here: www.insolvency-practitioners.org.uk/registered-property-receivers/scheme-operation/

In the event of a material complaint being upheld against a Nara member, Nara will review accordingly that member’s continuing status within Nara.

Nara publishes Professional Statements, available in the public domain, as well as a Code of Practice. The Professional Statements are consulted upon and adopted jointly by the parties to the Registered Property Receivership Scheme It is against those Professional Statements that monitoring is carried out by the Insolvency Practitioners Association and on which monitoring reports are submitted to the Scheme for review and action.