Ethics, Rules of Conduct, Professionalism Lvl 3 Flashcards
Who is the president of the SCSI
Enda McGuane
Who are the SCSI?
The SCSI are the Irish professional body representing construction, land and property professionals in Ireland.
What is the role of the SCSI
The role of the SCSI is to regulate the profession and is accountable for both its members and the public. The three key roles they state are:
o Set the highest standards
o Regulate its members
o Develop and produce leading edge research and knowledge
What is the SCSI Council
The council is chaired by the President of the SCSI, and they make decisions on policy which is then implemented by subsidiary committees and boards.
What is the role of the Professional Conduct Committee?
The role of the SCSI Professional Conduct Committee is to hear disciplinary cases and exercise the disciplinary powers of the society.
Some of the sanctions that can be imposed
by the committee are:
o Caution the member
o Reprimand the member
o Suspension (no more than 12 months)
o Give one or more undertakings
o Fine
o Impose conditions
o Expel
o Order member to take specific action
What are the SCSI – Rules of Conduct
o Ethic and Professional Behaviour
Act with integrity & avoid conflicts of interest
o Conduct
Members are expected to conduct themselves in accordance with the
rules
o Competence
Members shall carry out their professional work with due skill, care &
diligence and with proper regard for standards.
o Service
Members shall carry out their work in a timely manner & with property
regard for standards of service & customer care.
o Continuing Professional Development (CPD)
Members shall plan, undertake,
record & evaluate appropriate CPD.
o Solvency
Members shall ensure that their personal & professional finances are
managed appropriately.
o Duty of Confidentiality
Shall keep all client information confidential. Information can only be disclosed with client consent of if required by law or court.
o Co-operation
Shall co-operate fully with staff of the society
Why do the SCSI have Rules of Conduct
- To establish trust in the society and its members
- To protect the public
- To uphold the reputation of the profession.
What are the principles for better regulation
○ Necessity
○ Effectiveness
○ Proportionality
○ Transparency
○ Accountability
○ Consistency
SCSI Conduct of Business
o Training
Member firms shall have procedures in place to ensure staff are properly
trained and competent
o Complaints Handling
Member firms shall have an internal complaints procedure
set up.
o Client Money
Members shall preserve the security of client money in an account
separate to the company account
o Professional Indemnity Insurance
Member firms shall ensure that all previous & current work is covered by adequate & appropriate professional indemnity
insurance.
o Advertising
Members shall advertise or promote their services only in a truthful, tasteful and appropriate manner.
o Incapacity
Member firms which only has a sole principal shall have in place appropriate arrangements in the event that sole principal’s death, incapacity or extended absence.
What are the 5 standards of the RICS
o Act with Integrity
o Always provide a higher Standard of Service
o Act in a way that promotes Trust in the profession
o Treat others with Respect
o Take Responsibility
What is professional indemnity insurance
PI Insurance is put in place to protect staff, firm and client from financial loss arising from negligence.
Once qualified, what letters can you add to your name
MSCSI & MRICS
Who are the PSRA
The PSRA are the Property Services Regulatory Authority and were formed in April 2012 with the aim to achieve uniformity and transparency in licencing, regulation and provision of information to the public.
What are the functions of the PSRA
The functions of the PSRA are as follows:
o To control and regulate property companies
o Establish complaints and redress system for customers
o Set and enforce standards
According to the PSRA, how long must you hold offers for?
Agents must keep a record of all offers on a property for up to 6 years.
How would one make a complaint against a Property Services Provider
o Inform the PSRA of the complaint
o PSRA decide whether or not to investigate
o PSRA issue a decision
What is a Property Services Provider (PSP)
The Property Services (Regulation) Act 2011 applies to all Property Services Providers. These are persons involved either as corporate bodies, partnerships, sole traders or employees in
o The purchase or sale, by whatever means, of any estate or interest in land (including
buildings) wherever situated
o The auction of property other than land
o The letting of any estate of interest in land wherever situated
o The provision of property management services
If you are acting for a client in disposing a building and another one of you clients wants to purchase it, what do you do?
Potential conflict of interest. Disclose in writing to sales client and put forward we can decline or set up an information barrier. If the sales client declined, we would have to tell the second client no.
If the client who wants to purchase it asks you to tell him what it would take to buy it, what would you do
Duty of care is to my sales client.
What are consent orders
It is a written agreement between the RICS and a member or firm concerning a disciplinary issue on a breach of the RICS rules.
It can require the member to take certain corrective actions, or restrain them from taking certain actions for a specified period of time and may require them to pay a fine or costs.
What insurances would you need if you were starting up your own firm
- Professional Indemnity Insurance.
- Employer’s Liability.
- Public Liability.
- Building’s insurance of an office premises.
What sort of information do registered firms have to send to the RICS annually
- It is called annual return and carried out on-line.
- Failure to do so leads to a fixed penalty.
- It includes:-
o Type of business and staffing.
o Nature of clients.
o Training provision.
o Complaints handling procedures details and records.
o PI insurance details.
o Whether the firm holds clients’ money.
