Ethics - Rules Of Conduct 2021

Question 1

When were the new RICS Rules of Conduct published?

Answer 1

Published in October 2021.

Effective from 2nd February 2022 (on global basis).

They replace the previous Rules of Conduct for Members and Firms and the Global Professional and Ethical Standards.

Question 2

How many Rules of Conduct are there for RICS members and firms?

Answer 2

There are 5 Rules of Conduct.

Question 3

What is Rule 2 of the RICS Rules of Conduct?

Answer 3

Members and firms must maintain their professional competence and ensure that services are provided by competent individuals who have the necessary expertise.

Question 4

What is Rule 3 of the RICS Rules of Conduct?

Answer 4

Members and firms must provide good-quality and diligent service.

Question 5

What is Rule 4 of the RICS Rules of Conduct?

Answer 5

Members and firms must treat others with respect and encourage diversity and inclusion.

Question 6

What is Rule 5 of the RICS Rules of Conduct?

Answer 6

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.

Question 7

What are some of the mandatory professional obligations for RICS members?

Answer 7

1. Comply with the CPD requirements set by RICS
2. Cooperate with RICS
3. Promptly provide all information reasonably requested by the Standards and Regulation Board, or those exercising delegated authority on its behalf.

Question 8

What are some of the mandatory professional obligations for RICS-regulated firms?

Answer 8

1. Publish a complaints-handling procedure, which includes an alternative dispute resolution provider approved by RICS, and maintain a complaints log
2. Ensure that all previous and current professional work is covered by adequate and appropriate professional indemnity cover that meets the standards approved by RICS
3. If having a sole principal, make appropriate arrangements for their professional work to continue in the event of their incapacity, **death, absence ** from or inability to work
4. Cooperate with RICS
5. Promptly provide all information reasonably requested by the Standards and Regulation Board, or those exercising delegated authority on its behalf
6. Display on their business literature, in accordance with RICS’ published policy on designations, a designation to denote that they are regulated by RICS
7. Report to RICS any matter that they are required to report under the Rules for the Registration of Firms.

Example sentence: RICS-regulated firms have specific obligations to ensure compliance with professional standards.

Question 9

What is Rule 1 of the RICS Rules of Conduct?

Answer 9

Members and firms must be honest, act with integrity, and comply with their personal obligations, including obligations to RICS.