Ethics Flashcards
What are the 5 Rules of Conduct?
1 - Members and firms must be honest, act with integrity and comply with their obligations, including obligations to the RICS
2 - Members and firms must maintain their professional competence and ensure that services are provided by competent individuals who have the necessary expertise
3 - Members and firms must provide good quality and diligent service
4 - Members and firms must treat others with respect and encourage diversity and incoldion
5 - Members and firms must act in the public interest, take responsibility for their actions and act to prevent harm and maintain public confidence in the profession
When were the new rules published/effective
Published October 2021 and effective February 2022
Why did the rules change?
What is the role of the RICS
1 - to maintain the highest standards of education and training
2 - To protect consumers through strict regulation of professional standards
3 - To be the leading source of information and independent advice on land, property, construction and associated environmental issues
When was the RICS founded
1868
When was the RICS royal charter given
1881
Why was the Bichard Review commissioned
What were the recommendations of the Bichard Review
What are the benefits of being an RICS Member
Status
Recognition
Market advantage
Knowledge
Network
What would be required for registering a business with the RICS
Type of business and staffing details
Name of the Responsible Principal
Statutory regulated activities
Nature of clients
Complaints handling procedure
Professional indemnity insurance details
Whether the firm holds client money
When might you hold client money
Collecting rent payments on behalf of client
What are the mandatory professional obligations for members
Comply with the CPD requirements set by RICS
Cooperate with RICS
Provide all information reasonably requested by the Standards and Regulation Board, or those exercising delegated authority
What is the CPD requirement for members
20 hours minimum with at at least 10 hours of formal CPD
What is the purpose of the RICS ethics decision tree
To provide a framework of questions when facing a situation in which they are asked to act in a potentially unethical manner or situation
What questions does the RICS Ethics decision tree include
Do you have sufficient facts on the issue
Is it legal
Is it line with the rules of conduct
Have you consulted with appropriate people to make an informed decision
Do you have clear reasoning in reaching your decision
What other services are available to members to assist with ethical issues
RICS Regulation Confidential Hotline
What are the levels of disciplinary action
1 - action by head of regulation
2 - Disciplinary Panel (from independent Regulatory Tribunal)
3 - Appeal panel
