Ethics And Rules Of Conduct

Question 1

What legislation relates to money laundering?

Answer 1

Terrorist financing and transfer of funds (information on the payer) regulations 2017 as amended 2022

Question 2

What do the terrorist financing and transfer of funds regulations cover?

Answer 2

Estate agency work and relevant financial business work inside and outside the UK by a firm

Question 3

Describe the contents of the rics professional statement counting bribery, corruption, money laundering and terrorist financing?

Answer 3

1. Mandatory requirements for anti bribery corruption, money laundering and terrorist financing..
2. Guidance setting out supporting good practice for the above.
3. Supplementary guidance.
4. Glossary

Question 4

What is ethics?

Answer 4

Mortal right and wrong in human character and behaviour.

Doing the right thing in difficult situations where there might be conflicting principles.

Question 5

Why is the rics code of conduct important?

Answer 5

Clients place their trust in the service which could have a big impact on their lives/business and then public.

Professionals know what is expected of them and face penalties if they beach the code.

Having the code of ethics promotes trustworthy service.

Misleading valuations have consequences for the client and the health of the wider economy.

All surveyors are working to the same standard no matter where in the world they are based