Ethics Flashcards
When was the RICS founded?
1868
When was the RICS Royal Charred granted by the Privy council?
1881
What is the rics motto?
Es modus in rubus (there is measure in all things)
Roughly how many rics members are there?
Over 140,000
What is the RICS governance structure?
Governing Council runs the RICS. The Standards and Regulation board and the Management tBoard report to the Governing Council. There are then 17 specialist professional groups covering different specialisms. I’m
Who is the RICS CEO?
Justin Young
Who is the RICS president?
Justin Sullivan
What are the Roles of the RICS?
- Maintain high standards of education and training
- Protect consumers through strict regulation of professional standards
- To be the leading source of information and independent advice on land, property, construction, and associated environmental issues.
Why did the Bichard Review occur?
Followed an independent review carried out by Alison Levitt, and aimed to clarify the purpose of the RICS.
How many recommendations did the Bichard Review make?
36
What are some key areas of the Bichard Review?
- Show more leadership on sustainability
- A more simplified governance structure
- Increased focus on diversity
- Renewed focus on younger members
What are the 5 benefits of being an RICS member?
- Status
- Recognition
- Market advantage
- Knowledge
- Network
What % of principles who are rics members mean it must be regulated?
50% and above
What % of principles who are rics members mean they can apply to be regulated?
25% and above (up to 50%)
What is a Principal?
Someone able to act without supervision in a firm (e.g sole practitioners, directors, partners, board members)
What is a Responsible Principle?
A nominated person who makes sites steps are taken to ensure compliance with RICS requirements
Who handles disputes associated with firm registration?
Standards & Regulation Board
What information is needed to register as a company with the rics?
- Type of business
- Name of Responsible Principle
- Statutory regulated activities (e.g financial services
- Nature of clients
- Complaints handling procedure
- PII
- Whether the firm holds client money
What are the RICS rules of conduct?
Single set of rules that apply to firms and individuals.
What amendments were made to the rics rules of conduct in 2024?
Amendments relating to diversity and inclusion, sustainability, technology, and data management
What amendments were made to the rics rules of conduct in 2024?
Amendments relating to diversity and inclusion, sustainability, technology, and data management
When was the Rics rules of conduct published and when we’re they effective?
Published in 2021, effective from 2022
What is rule 1 of the rics rules of conduct?
- Members and firms must be honest, act with integrity and comply with their personal obligations
What is rule 2 of rics rules of conduct?
Members and firms must maintain their professional competence and ensure that services are provided by competent individuals who have the necessary expertise.