Ethics, rules of conduct and professionalism Flashcards
What does RICS stand for?
Royal institution of Chartered Surveyors
When was the RICS founded?
1868
Who is the president of the RIC?
Tina Paillet
What is the RICS Moto?
There is measure in all things
What are the benefits of being an RICS member?
- Status – provides client confidence
- Recognition – promotion of your professional excellence to governments and markets
- Market advantage – RICS status and standards give you a competitive advantage
- Knowledge – access to professional guidance, cpd and knowledge
- Network – over 130,000 members
What are the 5 rules of conduct?
Members and firms must
* 1 - be honest, act with integrity and comply with their professional obligations, including the RICS
* 2 - ensure they are maintain their professional competence and ensure services are provided by competent individuals with necessary experience
* 3- provide good quality and diligent service
* 4 - treat others with respect and encourage diversity and inclusion
* 5 - act in the public interest, take responsibility for their own actions, act to prevent harm and maintain public confidence in the profession
Why were the rules amended?
- Consolidate the seperate members and firms rules of conduct
- One single document to provide clarity
- Clearer examples of behaviours, understanding of technology and tackling climate change
What’s included in the new rules?
The new rules will provide:
* Create a clear structure.
* To focus on diversity, respect and inclusion
* To cover evolution of data and technology
* To highlight their role when it comes to global challenges.
In case of a breach in a rule of conduct, what can happen?
- Not every shortcoming leads to proceeding
- The head of regulation will carry out a formal investigation
- They can request information/visit and inspect to investigate compliance
- Members must co-operate with all enquires
What are the actions imposed after an investigation?
- Financial penalty
- Disciplinary panel
- Consent order
When is disciplinary proceedings triggered?
- When the RICS receive a complaint
- When the RICVS are provided with information
- When an allegation is received by a client or third party
What should be included in a complaints handling procedure?
The RICS provide a model form
* Must provide a redress mechanism
* Details of the policy should be issued to client
* It must be clear, quick, transparent and free of charge at the first stage
* Must include details of the nominated investigating person
* Must be investigated within 28 days
* All complaints must be recorded
* Note the requirement to advise PI insurers
When a complaint is received I would:
- Acknowledge receipt
- Forward to the firms designated complaints handler
- Highlight the importance of informing our PI insurers
What do you understand of a conflict of interest?
- A conflict of interest is when you have a personal or profession interest making it difficult fulfil your duties and to stay impartial
- A COF could also take place when an existing relationship is in place which could result in reduced impartiality
How would you manage a conflict of interest (COI)?
- If it is a personal profession interest – then I would step away
- However, dealing with a client COI:
o Obtain approval from both parties
o Ensure there is an information barrier
o Ensure separate communication lines
o Could sign confidentiality or non-disclosures
o Monitor and ensure both parties are kept up to date
