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APC > Ethics, Rules of Conduct + Professionalism > Flashcards

Ethics, Rules of Conduct + Professionalism Flashcards

1
Q

When was RICS founded?

A

1868

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2
Q

When did RICS get its Royal Charter?

A

1881

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3
Q

What is the benefit of the royal charter?

A

Promotes the usefulness of the profession for the public advantage

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4
Q

Who is the president for 2021 and 2022?

A

Kathleen Fontana and Clement Lau

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5
Q

Who is the CEO?

A

Sean Tompkins has recently stepped down. His replacement is yet to be announced.

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6
Q

What is the RICS motto?

A

Modus est rebus

There is measure in all things

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7
Q

What are the 4 levels of membership

A

FRICS
MRICS
AssocRICS
Student/Trainee

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8
Q

What do you need to become a Fellow?

A

4 of:

5yrs + of being MRICS
A leadership role
Professional/Technical achievement
Academic Achievement
Raising the profile of RICS
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9
Q

What is the main governance structure of RICS?

A

Run by Governing Council

17 specialist groups each with its own board.

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10
Q

What are the key UK Structures of RICS

A

4 national associations
10 Regional boards
Local Associations

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11
Q

What are the three main roles of RICS?

A
  1. Maintain high standards of education and training
  2. Protect consumers through regulation of professional statements
  3. To be leading source of information and advice on land, property, construction and associated environmental issues
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12
Q

What are the 5 main benefits of being a member of RICS?

A
  1. Status
  2. Recognition
  3. Market Advantage
  4. Knowledge
  5. Network
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13
Q

What are the requirements for registering a firm with RICS?

A
  • Company Office
  • Contact Officer
  • 25 % of principals RICS members
  • Date firm established
  • CHP in place
  • PII in place
  • Surveying services provided
  • Other bits required e.g. VAT registration
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14
Q

When are firms required to register with RICS?

A
  • More than 50% of principals are members
  • Provide surveying services to the public
  • Firm is operating in Regulated A
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15
Q

When are firms eligible to register?

A
  • At least 25% of principals are members

- Firm provides surveying services to the public

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16
Q

What are the principles for better regulation?

A

PACTT

Proportionality
Accountability
Consistency
Transparency
Targeting (serious breaches)
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17
Q

What are the 5 Global Ethical Standards?

A

STIRR

Service
Trust
Integrity
Responsibility
Respect
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18
Q

What are the new RICS Rules of Conduct?

A

In consultation

5 rules for all
3 rules for members
7 rules for firms

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19
Q

What are the 5 rules for all in the new RICS Rules of Conduct?

A
  1. Honesty, Integrity, Comply with all obligations
  2. Maintain professional competence
  3. Provide good quality and diligent service
  4. Treat others with respect
  5. Act in the public interest, take responsibility for their actions and act to prevent harm.
20
Q

What are the 3 rules for members in the new RICS Rules of Conduct?

A
  1. Comply with CPD requirements
  2. Comply with RICS
  3. Provide all information reasonably requested by the Standards and Regulation board
21
Q

What are the 7 rules for firms in the new RICS Rules of Conduct?

A
  1. Publish Complaints Handling procedure - including ADR
  2. Have appropriate PII
  3. Locum Arrangements
  4. Cooperate with RICS
  5. Provide all information reasonably requested by the Standards and Regulation board
  6. Must display that they are regulated by RICS
  7. Report any matter required under Rules for registration of firms.
22
Q

What are the old rules for members?(9)

A
  1. Interpretation of member
  2. Communication
  3. Ethical
  4. Competence - need to follow professional statements
  5. Service
  6. CPD
  7. Solvency
  8. Information to RICS
  9. Cooperation
23
Q

What are the old rules for firms?(15)

A
  1. Definition of Firm
  2. Communication
  3. Professional behaviour
  4. Competence
  5. Service
  6. Training (staff) and CPD
  7. Complaint’s handling -
  8. Clients money
  9. PII
  10. Advertising (truthful)
  11. Maintain solvency
  12. Arrangements to cover death/incapacity
  13. Use of designations
  14. Information to RICS
  15. Co-operation
24
Q

What are the rules around PII?

What rule number is it?

A

Number 9
If your turnover is less than £100,000 cover is £250k.
Turnover £100-250k cover is £500k
Turnover 250k+ cover is £1m .

25
Q

What is the hierarchy of RICS documents? What rule number is it?

A

Rule 4 - Competence

  1. International Standards
  2. Global Professional Statements
  3. UK Professional Statements
  4. Guidance notes
  5. Codes of Practice
26
Q

What are the rules around Complaints Handling? What rule number is it?

A

Rule 7

  • Must have a complaints handling procedure
  • Must include a redress system
  • Must have complaints handling officer and complaints handling log
  • Free of charge to individual complainant
  • Sole traders can’t deal with the complaint themselves
27
Q

What is the RICS Document that covers Complaints Handling?

A

RICS Guidance Note- Complaints Handling

28
Q

What is CBRE’s Complaints Handling procedure.

A
  1. All complaints referred to Compliance Director
  2. Formal response in writing within 7 days
  3. Within 20 days we will provide outcome of investigation into the complaint
  4. If the complaint is still unresolved we will inform on progress of complaint
  5. If there is no response within 8 weeks they will be referred to property redress scheme or centre for effective dispute resolution which CBRE are members of
29
Q

What are the rules around CPD? What rule no. is it?

A

Rule no. 6
20 hrs a year -10 must be formal
Every 3 years must refresh ethics and complaince knowledge

30
Q

What are the rules on handling client money? What rule no. is it?

A

Rule no. 8

  1. Must keep client money in a seperate named account
  2. Must be able to identify client
  3. Mioney held in seperate client accounts must have control by competent staff
  4. RICS Client Money Protection takes place from 1st April 2019 dealing with regulated firms that deal with surveying or agency services
31
Q

What is a locum agreement? What rule is it?

A

Rule 12

Sole practitioners need cover in case of long term absence from illness, death, long term holidays more than 1 month, unseen events etc.

32
Q

What is the process for Disciplinary Procedures?

A

3 levels of action

  1. Action by Head of regulation
  2. Disciplinary Action
  3. Appeal Panel
33
Q

What actions can be given by the Head of Regulation of RICS?

A
  1. Fixed penalty notice (used only relation to supply of information)
  2. Consent Order (minor breaches) - written document giving time period to stop an action
  3. CPD Sanctions
  4. Disciplinary Panel
34
Q

What’s the disciplinary Panel and what penalties can they impose?

A 
- 50% of members are not RICS members
Penalties include:
- consent order
- unlimited fine (must be proportionate)
- conditions on future RICS membership
- expulsion
- publication of results of hearing
35
Q

Whats the appeal panel

A
  • Shall consider an appeal against a decision relating to disciplinary procedure
  • Can consider new information
  • 50% of panel are lay members
36
Q

What is Money Laundering?

A

The concealment of the origins of illegally obtained money

37
Q

What are the Money Laundering Regulations 2017?

A

Requires firms to undertake more stringent DD processes. e.g.

  • stringent ID check
  • cannot accept cash payments above EUR 10,000
  • must have MLO
  • Must perform AML checks on clients
38
Q

What did the MLR 2019 do?

A

Added a number of other sections into the scope of MLR 2017:

- Letting agency now in scope (where agreements have a monthly rent larger than EUR 10,000)

39
Q

What is a bribe?

A

Something given in expectation of a change in behaviour

40
Q

What are the offences under the Bribery Act 2010?

A

States offences of bribery:

  • Giving a bribe
  • Taking a bribe
  • Bribing an official
  • Bribing a foreign official
  • Section 7: not having systems in place to prevent bribary
41
Q

What are the key principles in the Bribery Act 2010?

A
  • Due diligence
  • Risk Assessment
  • Proportionality (MOST IMPROTANT_
  • Top level commitment
  • Monitoring and Review
  • Communication
42
Q

What are the penalties under the Bribery Act 2010?

A

Individual: unlimited fine + up to 10yrs in prison
Firm: unlimited fine

43
Q

What is the RICS note on conflicts of interest?

A

RICS Conflict of Interest Professional Statement Global 2016

44
Q

What does the RICS Conflict of Interest Professional Statement Global 2016 provide?

A

An overarching obligation to members and firms to act with integrity and avoid conflicts of interest and avoid actions or situations that are inconsistent with its professional obligations.

45
Q

What is the structure of the RICS Conflict of Interest Professional Statement Global 2016

A

3 parts:

  1. Professional Statement on Conflict of Interest and Confidentiality
  2. Principles of how to apply professional statement
  3. Supplementary notes and guidance on how to apply rules

APC (17 decks)

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