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041			_aeng
110			_aRoyal Institution of Chartered Surveyors
245			_aRICS responds to NTS decision to withdraw guidance for estates and lettings professionals
260			_bRICS _c9 May 2025
520			_aOn 6 April 2025, the Digital Markets, Competition and Consumers Act 2024 (Commencement No. 2) Regulations 2025 were enacted, replacing the Consumer Protection from Unfair Trading Regulations 2008 (CPUTRs) and transferring direct enforcement powers to the Competition and Markets Authority (CMA). As such, RICS is also withdrawing its own guidance for our members based on the older law. Property agents must now comply with the legal requirements regarding material information in the Digital Markets Competition and Consumers Act (DMCC Act). Guidance was published by the CMA for compliance with the new law, however RICS voiced its concerns at the consultation phase that the CMA guidance contained ambiguities which leave businesses to interpret the law as they see fit. RICS feels that the withdrawal of the material information guidance and reference to the DMCC creates uncertainty for our members and consumers. We would welcome working with others in the sector such as the Home Buying and Selling Council and MHCLG to address the gaps left by the announcement by NTS.
650			_aMATERIAL INFORMATION
650			_aESTATE AGENCY
650			_aTRADING STANDARDS
650			_aPROPERTY PARTICULARS
651			_aEngland
690			_96266 _aResidential property
856			_uhttps://www.rics.org/news-insights/rics-responds-to-nts-decision-to-withdraw-guidance-for-estates-and-lettings-professionals _zRICS press release
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999			_c122157 _d122157