Bribery Act 2010 & RICS professional standard

Question 1

what is a bribery?

Answer 1

Offering or accepting payment or gift as an inducement for something illegal /unethical/ or breach of trust.

Refer to;
Bribery Act 2010. RICS Professional Standard on bribery.
Standards and Regulation Board (SRB). )

Question 2

What should RIC member do in relation to Bribery & Corruption?

Answer 2

1. DO NOT ACCEPT or offer any that could be classed as a Bribe
2. Have plans in place to deal with laws
3. Report any activity to relevant authorities
4. Conduct checks on potential clients/customers
5. Review existing & new businesses periodically.

Question 3

RICS regulated firms must:

Answer 3

If received a gift, hospitality etc, - declare it & make a note of this in a register.

Question 4

KYC stands for ?

Answer 4

Know Your Client

1- Take steps to check the client ie;
who else have they appointed?
2- Identity check - passport & recent proof of address.
3- check certificate of incorporation & annual return, if a company.