Breaching RICS

Question 1

Serious cases

Less serious

Answer 1

Disciplinary action

Regulatory compliance order - may include a find, caution and conditions

Question 2

If you were in breach what actions can the RICS take?

Answer 2

The head of regulations could impose the following:
1. Impose a fixed penalty fine.
2. Make a Consent Order.
3. Refer the matter to the disciplinary panel.

Question 3

How can a disciplinary proceeding be triggered?

Answer 3

• Someone complaining to the RICS
• An allegation by a client or third party
• Information received or established by the RICS

Question 4

What is Regulatory Compliance Orders/Consent Order

Answer 4

A Regulatory Compliance Order is an agreement between RICS and a Regulated Member (either an RICS professional or a RICS-regulated firm) that they are liable for disciplinary action.
In the agreement the Regulated Member:
accepts that they have fallen short of the standards expected; and
accepts the proposed sanction; and, in some cases,
accepts to take steps to meet the standards expected and/or to prevent it happening again.

Consent order - formal written agreement to retain from certain actions or pay a fine