THE future regulatory authority should be called the Estate Agents Authority, according to the working group on the regulation of estate agents. The group says it is important the authority command respect among the public as an impartial body taking account of the interests of the industry, the consumer and the community. It recommends the authority be composed of members from the trade, related professions and the community. Estate agents should be sufficiently represented. During its early stages, the group suggests government representatives on the authority to provide a link with the Government. The authority's powers should be: To make regulations, subject to the Government's approval, including: (i) The setting of all of the licensing requirements; (ii) Exempting certain organisations and classes of people from licensing; (iii) Prescribing rules of conduct and practice for estate agents and salespeople; and (iv) Prescribing penalties for breach of rules of conduct and practice; and To issue licences to estate agents and salesmen; To prescribe fees for the issue and renewal of licences and for services it provides; To prescribe standard forms, agreements and documents to be used by agents and salesmen; To inquire or appoint somebody to inquire into alleged breach of legal obligations and rules of conduct and practice by an agent or salesman, institute disciplinary proceedings and impose any of the specified penalties ; To delegate powers to a committee or an officer of the authority; and To review evidence and make a judgment on the reasonable amount of commissions and fees in response to an application by a party to a dispute between an agent and his client. The group has not recommended giving the regulatory authority powers to investigate allegations of people operating as estate agents without a licence. It believes these cases should be referred to the police. It recommends the regulatory authority should be a financially autonomous body which is expected to fund its day-to-day operations by its own revenues such as licence fees, penalties and miscellaneous charges. It should have its own executive arm to carry out its function and the Government should identify the means to help the authority start up.