AREF/IPF Inducements Working Group
This joint working group has been formed to address increasing concerns from the industry that the over-zealous application of the rules applicable to the regulated industry is a disadvantage to the real estate businesses; it held its first meeting earlier this month.
Regulatory policy across the industry is seen as significantly incoherent and there are concerns that the industry is applying restrictions to the real estate market more applicable to other areas of the regulated financial services industry.
Currently those outside the regulated industry find it difficult to understand the requests to monetise drinks, lunches or invitations to events, which can cause embarrassment, whilst those within it feel on the back foot compared with unregulated participants.
The objective of this group is to help educate those outside the industry as to how the real estate industry works and to consider balanced policies for real estate practitioners.