Market Overview

Infrastructure Suffers as Brazilian Institutions Are Marred by Scandal


Recent political scandals have impacted public trust in Brazil's public
institutions. Political corruption has resulted in mismanaged
infrastructure projects impacting viability of public transportation,
waste, water, energy and other public services.

Public transportation, for example, has been neglected. Roads are
congested. Without public investment in infrastructure to facilitate
transportation through the city, commute times are skyrocketing. The
lack of investment in infrastructure in all areas has a direct impact on

Sao Paulo is swelling under rapid urbanization, like many other global
cities. This growth means more cars are clogging the streets and more
competition for housing is driving up prices. This puts a strain on
companies vying for skilled workers and on families as people spend more
time sitting in traffic.

In an atmosphere of suspicion and mistrust, it is essential to have
clear standards set to identify risks.

RICS consults on standard to reduce risky behavior

RICS has issued a new standard for consultation that sets out
obligations for RICS professionals and regulated firms to minimise their
exposure to risks posed by bribery, corruption, money laundering and
terrorist financing. This is to guard against these financial crimes in
their day-to-day business operations.

Through an extensive global consultation of the ‘Countering bribery and
corruption, money laundering and terrorist financing' professional
statement, RICS aims to engage professionals and industry stakeholders
on their obligations to help mitigate the impact of these risks on their
day-to-day business practices.

Global consultation for stakeholders

RICS's new professional statement promotes professional and ethical
behavior by providing clear and consistent principles on what
constitutes a breach of conduct.

Once the professional statement has been finalised, it will apply to all
RICS professional disciplines globally. Responses are welcome from
anyone interested in preventing bribery, corruption, money laundering
and terrorist financing, particularly from small and large firms,
consumer groups, property professionals, regulators, governments and
international agencies.

Share your views in our consultation

The professional statement is global in scope and will apply to all RICS
professionals. Responses are accepted until August 31.

RICS promotes and enforces the highest professional qualifications and
standards in the valuation, development and management of land, real
estate, construction and infrastructure. Our name promises the
consistent delivery of standards - bringing confidence to markets and
effecting positive change in the built and natural environments.

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