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APC > Ethics, Rules of Conduct and Professionalism > Flashcards

Ethics, Rules of Conduct and Professionalism Flashcards

1
Q

When was the RICS founded?

A

1868

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2
Q

When was the Royal Charter granted to the RICS?

A

1881 by Privy Council

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3
Q

What is current membership of the RICS?

A

Current membership is over 140,0000 qualified and trainee members

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4
Q

What are the 4 levels of membership?

A
  1. FRICS
  2. MRICS
  3. AssocRICS
  4. Trainee/Student
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5
Q

What do you need to do to become a Fellow?

A

You need to provide:

Evidence of achievement of FOUR fellowship characteristics which include:
- 5 or more years at MRICS
- A leadership role
- Professional/technical achievement
- Academic achievement
- Raising the profile of the RICS

A portfolio of professional achievement to support the application is required to include your CPD

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6
Q

What is the RICS currently governed under?

A

Under the terms of its Royal Charter, by various internal councils and boards

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7
Q

How many members does the Governing Council have and what does it do?

A

Governing Council currently has over 20 members. It runs the RICS, providing management and strategic direction

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8
Q

Who reports to the Governing Council?

A

The Standards and Regulation Board and the Management Board

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9
Q

How many specialist professional groups are there and what do they do?

A

There are 17 specialist professional groups covering property, land and construction. Each professional group has an elected board and is responsible for outlining standards of competence and practice

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10
Q

Who is the current Chief Executive Officer (CEO) of the RICS?

A

Justin Young

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11
Q

Who is the current President of the RICS? What do they do?

A

Tina Paillet FRICS with effect from 1st January 2024. This position also chairs Governing Council

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12
Q

Who is the RICS accountable to?

A

Both members and the public

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13
Q

What does the RICS promote and enforce?

A

The highest professional qualifications and standards in the development and management of land, real estate, construction and infrastructure

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14
Q

What is the RICS involved in?

A

Policy influence and political engagement

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15
Q

What are the THREE main roles of the RICS?

A
  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
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16
Q

What are FIVE benefits of being a RICS member?

A
  1. Status
  2. Recognition
  3. Market advantage
  4. Knowledge
  5. Network
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17
Q

What are the RICS FIVE Future Foundations (published in November 2023 following the Bichard Review)

A
  1. Vision
  2. Mission
  3. Strategic Goals
  4. Values
  5. A World Class Organisation
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18
Q

What SEVEN things are required by the RICS for Firm Registration?

A
  1. Type of business and staffing details
  2. Name of the Responsible Principle
  3. Statutory regulated activities - such as for financial services
  4. Nature of clients
  5. Complaints handing procedure details and records
  6. Professional indemnity insurance details
  7. Whether the firm holds clients’ money
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19
Q

When were the RICS Rules of Conduct published?

A

The RICS Rules of Conduct were published in October 2021 following a period of consultation

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20
Q

When did the RICS Rules of Conduct come into effect?

A

They became effective from 2nd February 2022 on a global basis and replaced the previous Rules of Conduct for Members and Firms and the 5 Global Professional and Ethical Standards

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21
Q

Who do the RICS Rules of Conduct apply to?

A

The single set of rules apply to both members and firms, providing a simple structure with clear example behaviours for each rule

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22
Q

What are the RICS Rules of Conduct accompanied by?

A

12 supporting Case Studies

23
Q

What are the FIVE Rules of Conduct?

A

Rule 1: Members and firms must be honest, act with integrity and comply with their personal obligations, including obligations to RICS.

Rule 2: Members and firms must maintain their professional competence and ensure that services are provided by competent individuals who have the necessary expertise.

Rule 3: Members and firms must provide good-quality and diligent service.

Rule 4: Members and firms must treat others with respect and encourage diversity and inclusion.

Rule 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

24
Q

When and relating to what about the RICS Rules of Conduct did the RICS publish new material?

A

Provided new material providing detailed guidance on Rule 4 in March 2024 in respect of diversity, equity and inclusion

25
Q

What does Appendix A to the Rules of Conduct set out?

A

Professional obligations which was to be followed by members and regulated firms

26
Q

What must RICS members do under Appendix A to the Rules of Conduct?

A
  1. Comply with the CPD requirements set by RICS
  2. Cooperate with RICS
  3. Promptly provide all information reasonably requested by the Standards and Regulations Board, or those exercising delegated authority on its behalf
27
Q

What is The Decision Tree?

A

It provides a framework of questions which members should ask themselves when facing a situation in which they are asked to act in a potentially unethical manner or situation

It sets out a framework for considering whether to act for a client

28
Q

The RICS is responsible for regulating the surveying profession in order to…

A

…Protect the public, uphold the public confidence in the profession and uphold professional standards

29
Q

Who is responsible for undertaking regulation of the surveying profession?

A

The Standards and Regulation Board

30
Q

How can a disciplinary procedure be triggered?

A

By someone complaining to the RICS, an allegation by a client or third party or because of information received or established by the RICS

31
Q

What does the RICS Regulatory Decision Making, 2022 provide an outline of?

A

The regulatory approach by RICS of regulated members, non-members and firms

32
Q

What is set out in the RICS Regulatory Tribunal Rules, 2022

A

The disciplinary process itself

33
Q

What are the THREE levels of disciplinary action?

A
  1. Action by Head of Regulation
  2. Disciplinary Panel (drawn from the independent Regulatory Tribunal)
  3. Appeal Panel
34
Q

What are the penalties available to a Regulatory Tribunal Disciplinary Panel?

A
  1. Issue a Regulatory Compliance Order
  2. Reprimand
  3. Fine
  4. Impose an unlimited amount of fine per breach but it must be proportionate to the offence
  5. Impose conditions upon future continued RICS registration
  6. Expulsion from membership or remove a firm
  7. Require publication of the results of the heading in the RICS Modus magazine, on the RICS website and in the local newspaper where the firm or member is based
35
Q

What is the initial investigation stage in the Disciplinary Procedure?

A

The first step is a formal investigation by the Head of Regulation of the RICS

36
Q

What FOUR actions can the Head of Regulation initiate upon completion of their investigation if they consider that disciplinary action is required?

A
  1. Serve a Fixed Penalty Notice
  2. Make a Regulatory Compliance Order
  3. Refer the matter to a single member of the Regulatory Tribunal for consideration
  4. Refer the matter directly to a Disciplinary Panel
37
Q

What are Fixed Penalties?

A

Procedure used for breaches of the Rules relating only to the supply of information to the RICS by firms and members. These may consist of a fine and/or a caution

38
Q

What are Regulatory Compliance Orders?

A

They are for low level breaches of the Rules e.g. for some minor breaches which could be easily corrected.
It is a written document which states the terms upon which the member or firm must take or desist from taking certain actions in a specified time period, and an agreement to pay a fine.
It may cover issues such as non-compliance with RICS Rules, including failure to undertaken appropriate CPD which may result in sanctions e.g. Fixed Penalty and Disciplinary Panel action resulting in expulsion.

39
Q

What is Action by a Disciplinary Panel?

A
  • Procedure used for more serious breaches of conduct
  • The Head of Regulation can consider that a hearing is required under the discipline rules
  • Membership of a Disciplinary Panel includes lay members
40
Q

What penalties are available to a Regulatory Tribunal Disciplinary Panel?

A
  1. Issue a Regulatory Compliance Order
  2. Reprimand
  3. Fine
  4. Impose an unlimited amount of fine per breach but it must be proportionate to the offence
  5. Impose conditions upon future continued RICS registration
  6. Expulsion from membership or remove a firm
  7. Require publication of the results of the hearing in the RICS Modus magazine, on the RICS website and in the local paper where the firm or member is based
41
Q

What is an Appeal Panel?

A
  • They can consider a member or firm’s appeal against review of a decision relating to the disciplinary procedure
  • They review the decision with regard to the evidence previously presented and new representations.
  • The Appeal Panel can allow the appeal and vary the penalty previously imposed
  • Membership of this panel includes lay members
42
Q

What is the documentation regarding Social Media?

A

Use of social media: Guidance for RICS members, 2021

43
Q

What are Professional Standards replacing?

A

This new category of core material is replacing Professional Statements and Guidance Notes
The RICS is in the process of reviewing and re-categorising all current Professional Statements and Guidance Notes to become Professional Standards

44
Q

What are RICS Professional Standards?

A

Set of requirements or expectations for RICS members and regulated firms about how they provide services or the outcomes of their actions
They may include mandatory requirements, which use the word ‘must’ and these must be complied with; and/or recommended best practice, which uses the word ‘should’

45
Q

What is RICS Practice Information?

A

-This is information to support the practice, knowledge and performance of RICS members and regulated firms
- These publications can include, but are not limited to, good practice, information, insights and processes
- They do not contain advice

46
Q

What are RICS Practice Alerts?

A

In August 2023 the RICS published a new web page to collect Practice Alerts which are “key tools for warning or alerting the profession to emerging arears of risk over which the RICS has concerns”

47
Q

What are the key features of Fee Negotiations?

A
  • Firms should avoid price fixing, aggressive fee cutting or collusion with competitors
  • Fees should be market-based and agreed on an ad hoc basis with clients
  • You can enter into further fee negotiations with a prospective client, after you have submitted your initial fee proposal
  • In deciding your fee, you should consider the amount of time and resources required and that you have the appropriate expertise.
  • You should not be seen to be undercutting another firm
  • Importance of transparency to clients and customers e.g. referrals
48
Q

What must Terms of Engagement state in writing?

A

The client’s agreement to the proposed fee basis, payment of expenses (and how calculated) and that a copy of the firm’s complaints handling procedure is available on request

49
Q

What are THREE steps to follow before starting work on an instruction?

A
  1. Check professionally competent
  2. No conflicts of interest or personal interests
  3. Confirm terms of engagement in writing and get written approval from the client BEFORE you start work on the instruction
50
Q

What is required for agency work?

A

Compliance with Section 18 of the Estate Agents Act 1979 and money laundering checks (Money Laundering Regulations, 2017, as amended)

51
Q

What does The Consumer Rights Act 2015 allow?

A

A cooling off period of 14 days from the date of agreement

52
Q

What might be an appropriate reason to decline an instruction?

A
  1. You are not competent to undertake the work - it is outside your limitations
  2. You do not have sufficient facts on the issue
  3. The proposed client will not sign your terms of engagement and/or complete AML checks
  4. There is a conflict of interest or personal interest
  5. A professional indemnity insurance liability cap cannot be agreed
  6. The advice is for a friend or on a pro bono basis (e.g. free of charge for a charity) and your PII will not cover cover carried out on a personal basis
  7. The potential client is included in the UK Government’s sanctions list
  8. Would you be content for your actions to be made public (newspaper/internet)
53
Q
A

APC (11 decks)

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