Ethics - Level 3 (Ready) Flashcards
What is the role of the RICS?
- Maintain highest standards of education and training
- Protect consumers through strict regulation and legislation
- To be the industry leading source of information and independent advice on land, property, construction and environmental issues
What are the RICS Rules of Conduct for Members?
- Ethical
- Competence
- Service
- CPD
- Solvency
- Information to RICS
- Co-operation with RICS
What are the RICS Rules of Conduct for Firms?
- Professionalism
- Indemnity
- Competence
- Service
- CPD
- Clients money handling?
- Complaints handling procedure
Part 3 (ASADIC)
- Advertising
- Solvency
- Arrangements to cover incapacity or death of sole practitioner
- Designations
- Information to RICS
- Co-operation with RICS
Why do you have a duty to the public?
- Royal Charter
Can you tell me about your firms anti-bribery policy?
- Zero tolerance on bribery
- No cash is to be accepted
- Gifts with a value of more than £50 should be declined
- Hospitality with a cost per head of more than £100 must be approved by FD
- Require approval to spend more than £50 per gift per person and meals of £100 per head
- All gifts must be logged in gift register
What is the key legislation about bribery?
- Bribery Act 2010
- Proceeds of Crime Act 2002
What is your firms anti-money laundering policy?
- Have an appointed Money Laundering Reporting Officer who reports any suspicious activity to the National Crime Agency using Suspicious Activity Report (SAR)
- Carry out risk assessments
- Provide staff training
- Carry out CDD (or EDD)
- Comply with requirements relating to foreign public officials
- We ensure appropriate record keeping
- Ensure that anti-money laundering checks are carried out to confirm the identity of proposed purchasers
What hospitality event were you invited to?
Lords Cricket
Who holds your company’s gift register?
Finance Director
What would you have done if the Reading sites location was revealed?
- Inform my Director immediately
- Inform the matter immediately to my Firms Compliance officer
- Inform the recipient that any information received in error should be disposed of securely
When were the Rules of Conduct last updated?
- March 2020
- Being updated now to be consolidated
What changes are proposed to the Rules of Conduct?
- New simplified structure
- Set of five rules to cover members and firms
- Integrity
- Professional competence
- Service
- Respect
- Responsibility
Would you accept a bottle of wine from an as yet uninstructed agent?
No, this could be seen as a bribe
What are the offences under the Bribery Act 2010?
- Giving a bribe
- Receiving a bribe
- Failing to prevent a bribe
- Bribing a foreign public official
Why would not applying reasonable rent-free periods and voids be an ethical issue? What could the impact be?
- If I did not assume a correct rent free period, I may have provided by Director with an incorrect value
What needs to be declared on your hospitality register?
- All gifts and hospitality
What are the RICS Global Professional and Ethical Standards (2015)?
STIRR
- Service
- Trust
- Integrity
- Respect
- Responsibility
What is the Professional and Ethical Standards Decision Tree?
- Framework of questions members should ask themselves when asked to act in a potentially unethical manner or situation
- Encourages members to consider legality of their actions and consistency with RICS Global Professional and Ethical Standards
- Ultimate test is whether you would be happy for your actions to be made public
What steps are outlined in the decision tree?
- Do you have sufficient facts?
- Is it legal?
- Is it in line with RICS Global Professional and Ethical Standards?
- Have you consulted appropriate people to make a decision?
- Do you have clear reasoning to make your decision?
- Would you be content for your actions to be made public?
- ACT AND THEN REFLECT ON THE OUTCOME
What are the three levels of disciplinary action?
- Action by Head of Regulation
- Disciplinary Panel
- Appeal Panel
What is meant by the term self regulation?
The RICS self regulates, which means that it operates within its own regulatory framework as opposed to government legislation
What penalties can a disciplinary panel issue?
- Compliance order
- Unlimited fine
- Conditions upon future registration
- Expulsion
- Publication of results
What is a regulatory compliance order?
- Used for low level breaches
- Written document stating what member must do for specified period
When would a fixed penalty be issued?
- Only relating to when information is supplied to the RICS