Regulatory Alerts2020-10-01
Added · Updated
Communiqué on Real Estate Appraisal Firms Operating in Capital Markets
The Capital Markets Board issued Communiqué III-62.3 to establish the authorization procedures, operational principles, and withdrawal conditions for real estate appraisal firms engaging in capital market activities. The regulation mandates that firms be joint-stock companies with specific capital and staffing requirements, including a minimum of ten full-time appraisers and responsible appraisers holding significant equity stakes. It further defines strict eligibility criteria for shareholders and executives, prohibits outsourcing beyond revenue limits, and outlines the process for license cancellation upon violation of professional standards.
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