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APC 2022 > Mandatory > Flashcards

Mandatory Flashcards

1
Q

What are the 5 rules of conduct for members and firms?

A

Came into play 2nd feb 2022

  1. Members and firms must be honest, act with integrity and comply with their professional obligations, including obligations to RICS.
  2. Members and firms must maintain their professional competence and ensure that services are provided by competent individuals who have the necessary expertise.
  3. Members and firms must provide good-quality and diligent service
  4. Members and firms must treat others with respect and encourage diversity and inclusion
  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.
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2
Q

Why are the Rules of Conduct important?

A

 Ensures professionalism
 Upholds reputation of myself, firm and RICS
 Client/ customer confidence
 Distinguishes RICS members from others in the marketplace

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3
Q

What are the professional obligations to RICS?

A

 Found in Appendix A of the Rules of conduct Oct 21, effective 2nd Feb 22.

The following professional obligations to RICS are mandatory for RICS members.

 Members must comply with the CPD requirements set by RICS.

 Members must cooperate with RICS.

 Members must promptly provide all information reasonably requested by the Standards and Regulation Board, or those exercising delegated authority on its behalf.

The following obligations are mandatory for RICS-regulated firms.

 Firms must publish a complaints-handling procedure, which includes an alternative dispute resolution provider approved by RICS, and maintain a complaints log.

 Firms must ensure that all previous and current professional work is covered by adequate and appropriate professional indemnity cover that meets the standards approved by RICS.

 Firms with a sole principal must make appropriate arrangements for their professional work to continue in the event of their incapacity, death, absence from or inability to work.

 Firms must cooperate with RICS.

 Firms must promptly provide all information reasonably requested by the Standards and Regulation Board, or those exercising delegated authority on its behalf.

 Firms must display on their business literature, in accordance with RICS’ published policy on designations, a designation to denote that they are regulated by RICS.

 Firms must report to RICS any matter that they are required to report under the Rules for the Registration of Firms.

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4
Q

What is the required level of professional indemnity insurance cover?

A

The RICS professional indemnity insurance requirements version 9 effective 1 April 2022 states:

The minimum limit of indemnity refers to the turnover in the previous year as:

Up to £100k 250k cover
£100-200k 500k cover
200k+ 1 million cover

Level of uninsured excess relates to the firms turnover:

<£10 million 2.5% of sum insured or £10k (whichever highest)
>£10 million 2.5% of sum insured

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5
Q

What is required to renew Professional Indemnity Insurance?

A

PII pack submitted to insurers:

Name and details of the firm
Details of those insured i.e. partners, consultants and employees
Type of professional work insured
Turnover
Location of work
Details of previous and ongoing claims
Commencement date
Policy period
The uninsured
excess
Indemnity limit
Premium
Person of Contact

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6
Q

What does fully retroactive mean in the contact of PI insurance?

A

This means that the policy covers claims that are first against the insured during the period of insurance regardless of when the negligent act occurred.

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7
Q

What would you do if you were asked to do something unethical?

A

Refer to the ethics decision tree if borderline and speak to someone more senior, such as my line manager or the responsible partner

I would whistleblow if required e.g. I would report suspected Money Laundering to the MLRO who would take the matter forward on my behalf.

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8
Q

What has the RICS produced to help surveyors make ethical decisions?

A

The RICS has created the Ethics Decision Tree, which members can refer to if they are asked to do something they are unsure about.

 Framework of questions members should ask themselves
 Encouraged members to consider the legality of their action and the consistency with the RICS Global and Professional Ethical Standards
 Ultimate question is whether members would be content to have their decisions or actions made public
 RICS Regulation Confidential Hotline offers further assistance to members with any ethical issue

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9
Q

What is included in a letter of engagement?

A

Identification of Client
The Service
Fee Basis
Timescale
Client Money Handling
Complaints Procedure
Conflict of Interest
Data Protection
Limitation of Liability
Restriction on Use, Distribution and Publication
Declaration by Client (signature and date)

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10
Q

Why must a Chartered Surveyor remain solvent?

A

 May impair decision making
 May not act in the best interest of the client
 More susceptible to take bribes
 Does not reflect well on ability to manage client’s finances

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11
Q

What are the reputations of not meeting CPD requirements

A

Caution
Caution and a fine
Disciplinary panel
Name published

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12
Q

Purpose of the APC?

A

The Assessment of Professional Competence (APC) ensures that candidates are competent and meet the high standards of professionalism required to become a chartered surveyor.

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13
Q

What were the findings of the Levitt report?

A

Alison Levitt independent review established:

 Internal audits were suppressed
 4 non-exec board members raised concerns
 They were unfairly dismissed

Levitt determined that sound governance principles were not followed

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14
Q

What is the central purpose of the RICS?

A
  1. To maintain high standards of education and training
  2. Inform policy and political engagement
  3. To protect customers through strict regulation of professional standards
  4. To be the leading source of information and independent advice on land, property, valuation and built environment
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15
Q

RICS Regulations as approved by Governing Council

A

Updated January 2023, consists 10 regulations:

  1. Definition
  2. Membership and registration
  3. Designations
  4. Contribution to funds
  5. Conduct
  6. Governing Council, officers and staff
  7. Subordinate boards, committees and groups
  8. Procedure for General Meetings and voting
  9. Accounts and Audit
  10. General
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16
Q

What is the (Global) structure of the RICS?

A

 Governing Council (currently 22 members) comprising:
 Interim Chair of Governing Council Nicholas Maclean
 15 country reps
 6 specialism reps

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17
Q

What Groups form the government structure of the RICS?

A
  • Governing Council (Nicholas Maclean is the Interim Chair, 25 members, provides management and strategic direction)
  • The Standards and Regulatory Boards, Management Board and other committees report to the Governing Council.
  • 17 specialist professional groups, each with an elected board responsible for outlining standards of competence and practice.
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18
Q
A

The Royal Charter incorporated the Surveyors’ Institution on 26 August 1881

  • granted by sovereign
  • gives independent legal personality on an organisation, defines its objectives, constitution and powers to govern its own affairs.
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19
Q

The RICS Rules five principles of better regulation?

A

PACTT:
1. Proportionality: making the penalty proportional to the breach
2. Accountability: to all members and the public
3. Consistency: treating all members the same
4. Targeting: serious breaches
5. Transparency: to all members, clients and the public

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20
Q

What are the RICS Byelaws?

A

The byelaws set out the structure, requirements and governance of the RICS as a self-regulated body.

Apply to all members, firms and other non-member individuals as defined in the royal charter, i.e. FRICS, MRICS, AssocRICS, trustees and management board officers.

BYELAW 1 – Application and Definitions
BYELAW 2 – Membership and Registration
BYELAW 3 – Designations
BYELAW 4 – Contribution to Funds
BYELAW 5 – Conduct
BYELAW 6 – Governing Council, Officers and Staff
BYELAW 7 – Subordinate Boards, Committees and Groups
BYELAW 8 – Procedure for general meetings
BYELAW 9 – Accounts and Audit
BYELAW 10 – General

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21
Q

Registering a firm with RICS

A

RICS Rules for the registration of firms (Version 8, February 2022) sets out the procedure of registration and the circumstances in which a firm can and must apply.

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22
Q

How would you register a firm with the RICS?

A

An application to register for regulation by RICS must:

  • Provide information to RICS in such forms as provided by the Standards and Regulation Board
  • Agree that RICS may share relevant information about the firm with government or other regulatory bodies as appropriate
  • Agree that if RICS declines to register the Firm, RICS may publish its decision
  • Have a Responsible Principal. They must be:
    Appropriate
    Able to influence strategic objectives and significant decisions of the Firm
    Be a RICS member
  • Pay the appropriate fees
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23
Q

What RICS compliance matters would you consider when setting up a new firm?

A
  • Inform RICS of your new firm by completing a Firm Detail Form
  • Appoint a Responsible Principal for all RICS Communication
  • Register with the RICS for regulation by the Standards and Regulatory Board
  • Arrange PII Insurance
  • Set up procedures for handling client money
  • Register for RICS Valuer Registration Scheme if undertaking Red Book valuations
  • Obtain RICS approval for the Complaints Handling Procedure
  • Set up a complaints log
  • Appoint a Complaints Handling Officer
  • Obtain a logo kit from the RICS to use to produce all practice material to ensure compliance with the ‘Regulated by RICS’ designation
  • Plan for succession if sole practitioner
  • Ensure CPD is logged online
  • Ensure completion of an online RICS Annual Return at the end of each year
  • Ensure compliance with RICS Rules of Conduct for Firms
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24
Q

What statutory compliance matters would you consider when setting up a new firm?

A
  • Employer and Public Liability Insurance
  • Inform HMRC for VAT (£85,000 per annum turnover threshold) and tax
  • GDPR 2016
  • Requirement to disclose business name
  • Equality Act 2010
  • Financial Services Act 2012
  • Bribery Act 2010
  • The Money Laundering, Terrorist Financing and Transfer of Funds (Information to the Payer) Regulations 2017
  • Health and Safety at Work Act 1974
  • Control of Asbestos Regulations 2012
  • Regulatory Reform (Fire Safety) Order 2005
  • Estate Agents Act 1979 & Consumer Protection Regulations 2008
  • registration
  • Employment law
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25
Q

What is the Process of Firm regulation?

A
  1. Check eligibility to register
  2. Prepare RICS compliant CHP
  3. Complete and provide RICS Regulation with “Firm Details” form
  4. Gather the relevant details to complete the application form
  5. Submit an application for regulation through RICS online portal
  6. Receive confirmation

Free of charge unless the firm will hold client monies

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26
Q

What information must be provided for RICS firm registration?

A
  1. Type of business and staffing details
  2. Statutory regulated services (such as for financial services)
  3. Nature of clients
  4. Complaints handling procedure
  5. Professional Indemnity Insurance details
  6. Whether the firm holds client’s money
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27
Q

What RICS obligations are there?

A

 Ensure clients’ money handling procedures as per RICS guidance are in place if applicable
 Obtain sufficient professional indemnity insurance (PII)
 Adopt an adequate complaints handling procedure (CHP)
 Ensure processes are in place ensure staff are adequately trained and competent (including CPD provision)
 Comply with the rules of conduct for members and firms
 Appoint a Contact Officer designated to be the main liaison point with the RICS
 Appoint a locum if a sole practitioner

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28
Q

What are the (3) benefits of regulation for firms?

A

 Confidence - for clients as regulated firms are monitored by RICS regulation
 Professionalism - firms have to provide clear, impartial and expert advice
 Security - firms have to have recognised CHP, access to ADR and PII cover

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29
Q

What information is required by the RICS for registration and in the annual return?

A
  1. Type of business and staffing details
  2. Statutory regulated activities - such as for financial services
  3. Nature of clients
  4. Complaints handling procedure and records
  5. Professional indemnity insurance certificate
  6. Whether the firm hold clients’ money
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30
Q

What is the RICS disciplinary procedure?

A

If a serious matter with supporting evidence is disclosed, the RICS can take disciplinary action against the member

Most serious cases, referred to Disciplinary Panel, drawn from the independent Regulatory Tribunal.

For less serious cases with an admission of allegations, a Regulatory Compliance Order can ensure future compliance with RICS standards.

OR, less serious cases with no admission of allegations, the matter is referred to a single member of the Regulatory Tribunal to decide whether to impose a disciplinary outcome.

The Regulatory Tribunal is independent of RICS and the regulatory department.

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31
Q

5 types of document the RICS produces?

A

International standard – international high-level principle-based standard developed in collaboration with other relevant bodies. MANDATORY
Professional Statement – a document that provides members with mandatory requirements that a member or firm is expected to adhere to. This term incorporates practice statements, RICS Red Book, RICS Rules of Conduct etc MANDATORY
Code of Practice – document approved by RICS and endorsed by another professional body/stakeholder, that provides recommendations for accepted good practice. Can be both MANDATORY and RECOMMENDED
Guidance Note – document that provides users with recommendations or approach for accepted good practice as followed by competent and conscientious practitioners RECOMMENDED
Information Papers – practice-based information that provides users with the latest technological information. INFO ONLY

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32
Q

What is a conflict?

A

A circumstance where your impartiality may be threatened.

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33
Q

What is Fisher Germans COI procedure for new clients?

A

New client COI check when preparing ToE & must identify:
a) Who the client is
b) location of the relevant property
c) nature of the instruction
d) any potentially affected third parties

 Email sent to chase non-responders
 Must have a response from at least one member of every team
 The search function of the COI check system must be used to check for any previous involvement with the client or affected third parties which may lead to a conflict of interest
 Evidence of each of the steps taken above must be retained on the file

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34
Q

What is Fisher German’s COI procedure for a retained client?

i.e. estate management client?

A

In the case of an existing management client arrangement COI checks should be made:
 Annually
 Whenever a new instruction outside of the management agreement is made
 When the structure of the client changes
When new trustees/executors/directors/partners are appointed

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35
Q

When you take on a new client, what checks do you make?

A

Know Your Customer (KYC) due diligence must be carried out on every client that you consider doing business with.

Customer Due Diligence (CDD) required you to identify the client and verify their identity – proof of identity and proof of address

If the client is a politically exposed person (PEP), a PEP family member/business associate or from a high-risk country then you should undertake Enhanced Due Diligence (EDD).

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36
Q

What is enhanced due diligence?

A

Enhanced Due Diligence (EDD) is a more detailed, risk-based approach used to check and analyse higher-risk customers.

Fisher German use Smart Search to do this externally.

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37
Q

How would you approach a conflict of interest?

A

Follow the guidance set out in the RICS Global Professional Statement on Conflicts of Interest, 2017: (effective January 2018)

  1. Conflict avoidance - decide whether the conflict is manageable and whether proceeding is in the best interest of all parties
  2. Written advice to both parties - disclose the nature of the conflict, explain how you will manage it and request written confirmation of informed consent
  3. Conflict management - set up information barrier in accordance with provisions agreed with the clients
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38
Q

Why is it important to avoid COIs?

A

 To prevent anything getting in the way of duty to advise and represent each client objectively and independently, without regard to the consequences to another client, any third party, or your own interests

 Promote trust in the clients and in turn the public that you are transparent and confident in abilities.

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39
Q

What would you do if you identified a conflict before taking instruction or during an instruction?

A
  1. Notify line manager/ partner
  2. Inform all parties
  3. Only seek Informed Consent if satisfied that all relevant parties will be served by you doing the work
  4. In seeking Informed Consent the prospective client must be told, and understand, the nature of the competing interest. If it is not possible to achieve that without breaching a duty of confidentiality owed to another client or party
  5. Information Barrier
  6. Informed consent form
  7. If during a sale, the conflict must be stated on the particulars
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40
Q

RICS requirements for money handling?

A

In line with RICS Client Money Handling, 1st ed. October 2019

 client money must be protected
 client money must be held in a separate client account
 client money used for agreed purposes only
 firms must have procedures and policies in place

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41
Q

What key components do the RICS require in a money handling procedure?

A

RICS Professional Statement on Client Money Handling, October 2019 requires the following:

  • Client must always have access to the funds
  • Client money is separate and clearly identifiable (“client” in account name)
  • Interest on the account must be agreed with client first
  • Account must not be overdrawn
  • Controls in place to keep account secure
  • Competent and knowledgeable staff to process clients’ money with cover provided for long term absence
  • Client ledger must be maintained
  • Annual audit and reporting obligations by certified accountant employed by RICS
  • RICS Regulatory Review Visits can be undertaken by RICS usually on a routine 3 yearly basis
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42
Q

What is the Client Monies Protection Scheme?

A

RICS funds the Clients’ Money Protection Scheme.
 service provided by RICS
 to clients of RICS regulated firms

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43
Q

What are the regulatory review fees for client money handling?

A

All regulated firms who hold clients’ money must pay a regulatory review fee on completion of the RICs annual return.

The fee correlates to the number of principals in the firm.

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44
Q

What is a bank mandate?

A

A bank mandate is:
- Created when the account is set up
- Contract between bank and account holder
- States rights and obligations of the firm
- States the names of authorised signatories

45
Q

What is a cashbook?

A

A record of all client receipts and payments in chronological order

Usually provides a running total amount of client money held by the firm at all times.

46
Q

What happens to unidentified client money?

A

If your firm has any surplus client money in a client account, best practice is to:
 ensure that all efforts are made to trace the clients or owners of the money
 hold the surplus money in a client suspense account
 hold in suspense account for at least three years

If, after three years, the client or owner of the money has not been found and no true claimants to the money have come forward, it must be donated to a registered charity.

 A receipt must be obtained from the registered charity
 Charity should provide an indemnity to enable the firm to recover the donation in the event of a claim.

47
Q

What is unidentified client money?

A

Unidentified client money is where the beneficiary is unknown or
cannot be traced, preventing payment to the client.

48
Q

What is money laundering?

A

Money Laundering is the process of exchanging criminally obtained money or assets (criminal property) for clean money or assets with no obvious link to their criminal origins.

49
Q

Main money laundering legislation?

A

 The Money Laundering and Terrorist Financing Regulations 2019
 Proceeds of Crime Act 2002
 Terrorism Act 2000
 Criminal Finances Act 2017

50
Q

What are the AML responsibilities in your role?

A

To verify the I.D. of all appropriate clients and purchasers who would seek to buy property from those clients

To undertake due diligence to check the aforementioned are not the subject of sanctions or other statutory measures prohibiting the firm from providing its services to them.

FG use Smart Search.

51
Q

What identification do you require on a client to do Customer Due Diligence?

A

Private: identify client and their identity based on a reliable independent source (e.g. passport or driving licence). Proof of address (e.g. bank statement, council tax statement) not more than 3 months old

Company: certificate of incorporation, full name, company number and address of registered office (names of directors and beneficial owners as anyone who has a shareholding of 25% or more)

PLC: London Stock Exchange listing

Publicly accountable body: proof of government ownership/control

52
Q

When would you do AML checks?

A

Applicable to estate agency and letting agency
Due diligence & checks on bidders, buyers and sellers

  • Verify clients (vendors) ID when ToE agreed
  • Purchasers ID as follows:
     Private treaty/ inf. tender - when offer is accepted
     Sealed bids - on the successful bidder
     Auction - bidders before receive a paddle
    buyer before hammer falls
  • Lettings
     When receiving rent of over 10,000 euros per month for the duration of at least one month (per property)
53
Q

What is FG’s AML procedure?

A
  1. If I had a ML suspicion, I would not make client aware of suspicion
  2. Discuss with partner in charge
  3. Complete and send FG’s suspicion report form to MLRO & await their further instruction
  4. MLRO decides if to take to the Financial Conduct Agency (FCA)
54
Q

RICS document on Money Laundering?

A

Countering bribery and corruption, money laundering and terrorist financing, 1st edition, February 2019. (Professional statement)

Lists the requirements, guidance and supplementary guidance for firms and members.

55
Q

RICS document on Complaints Handling.

A

RICS Complaints Handling 2016 (Guidance Note)

56
Q

What should a firm’s Complaints Handling Procedure do?

Requirements of a Complaints Handling Procedure?

A
  • Be fit for purpose
  • Made available to all staff
  • Be understood by al staff
  • Readily shared with complainants or potential complainants
  • Regularly reviewed at senior level
  • Be agreed with PI insurers
  • Provide details of access to an independent redress scheme
57
Q

What components must a CHP include?

A
  • Minimum of 2 Stages
  • Stage 1 must be free of charge
  • Must acknowledge within 28 days
  • Must be handled by a senior or designated person
  • If complainant still dissatisfied escalates to Stage 2
  • RICS approved independent redress scheme
  • Complainant may contribute towards stage 2 costs
  • Must inform PI insurers of a complaint immediately
  • All complaints, their progress and outcomes must be recorded
58
Q

What is your firms CHP?

A

Stage 1
Complaint received in writing
Refer to complaints@fishergerman.co.uk who will acknowledge receipt within 5 working days and advise of procedure.

Stage 2
Response within 15 days from department head detailing outcome of internal investigation.
If will take longer, complainant notified before expiration of 15 days that further time required, up to max 28 days from original complaint.
Claimant has 14 days to accept otherwise referred to redress.

Stage 3
If complainant is not satisfied can ask Senior Partner to review before referred to an RICS approved independent redress scheme.

Sanjay Patel – CH Officer at FG

59
Q

What are the Redress Mechanisms?

A

are used by RICS-regulated firms for complaints received from consumers and should be free at the point of entry

Valuation
Centre for Effective Dispute Resolution (CEDR)

Residential
Property Redress Scheme (PRS)

60
Q

What are some examples of dispute resolution?

A
  • Negotiation
  • Mediation
  • Conciliation
  • Adjudication
  • Arbitration
  • Independent expert determination
61
Q

What is the RICS Dispute Resolution Service?

A

RICS service aims to keep cases of dispute out of the courts.

Various services for conflict avoidance, mediation, expert witness services.

Also more specific offerings such as neighbourly disputes, rent reviews, ground rent etc.

62
Q

What techniques are available to resolve disputes?

A

The 3 Pillars of Alternative Dispute Resolution:

PILLAR 1 - Negotiation
Problem-solving efforts of the parties to arrive at a solution.

PILLAR 2 - Mediation or conciliation
Neutral 3rd party facilitates negotiations between the parties. No decision-making authority.

Mediator asserts no opinion whereas the conciliator puts forward a proposed outcome based on the discussion between the parties. Outcome not binding.

PILLAR 3 - adjudicative process
Final outcome determined by a 3rd party whose decision is binding. Includes arbitration, Independent expert determination.

Final option is legal recourse - court in the First Tier Tribunal

63
Q

ARBITRATION

(appointed, partied bounded by decision made)

A

Arbitration is a legal proceeding whereby an arbitrator is appointed to reach a decision on the basis of evidence put before him/her.

The arbitrator interprets the evidence and must have specialist knowledge of subject area. The parties are bound by the decision of the arbitrator.

Positives: Fast, cost-effective and confidential method of dispute resolution. Neither party has control (as the arbitrator has it), decision is final. Cheaper than court.

Negatives: if the issues are complex the dispute may continue for some time, no jury therefore the decision cannot be overturned.

64
Q

What is a Caulderbank offer?

A

Without Prejudice save as to cots – last attempt to come to an agreement – other parties cannot submit this to the arbitrator. However, once the decision is made they can present to the arbitrator ….

65
Q

Mediation

(neutral, no authority)

A

is where parties invite a neutral individual to facilitate negotiations between parties with a view to achieving a resolution to their dispute. A mediator can not impose a resolution and has no decision making authority.

Documents are exchanged prior to the meeting, opening statements from parties, mediator facilitates the conversation, negotiation of a settlement.

66
Q

Arbitration

(appointed, legal authority)

A

Is a legal process where an arbitrator is appointed to reach a decision on the basis of evidence put before them. the arbitrator interprets the evidence and must have specialist knowledge of the subject area, and the parties are bound by the decision.

67
Q

Conciliation

(appointed, no authority)

A

Is the process whereby a third party is appointed as a neutral to help parties involved in a dispute to achieve a settlement by steering negotiations towards a decision, although it is not legally binding.

68
Q

Adjudication

(appointed, legal authority)

A

Adjudication is the legal ruling or judgement, usually final, but can also refer to the process of settling a legal case or claim through the courts. Adjudicator determine the rights and obligations of parties involved in a dispute.

69
Q

Independent Expert determination

(appointed, legal authority)

A

An expert is appointed by the parties and carries out work in the usual way in order to provide an expert opinion. The decision is final and legally binding to all parties.

70
Q

What is a bribe?

A

A bribe constitutes the offering, promising, giving or receiving anything of value in return for gaining an advantage.

71
Q

Main legislation covering bribery?

A

Bribery Act 2010
Proceeds of Crime Act 2002

72
Q

What are the six principles under the Bribery Act 2010?

A
  1. Proportionality
  2. Top-level commitment
  3. Risk assessment
  4. Due diligence
  5. Communication
  6. Monitoring and review
73
Q

What are the offences under the Bribery Act 2010?

A

4 main offences:
1. To bribe another person
2. To be bribed
3. To bribe a foreign public official; and
4. For corporate entities, it is an offence to fail to prevent bribery

74
Q

Who does the bribery act apply to?

A

The Bribery Act 2010 applies to directors, employees, agents, contractors, partners and subsidiaries of:

 UK reg companies
 Overseas companies operating in UK

75
Q

Who enforces the Bribery Act 2010?

A

Serious Fraud Office (SFO) – principal investigators
National Crime Agency (NCA) – Law enforcement response

76
Q

Consequences of non-compliance with the Bribery Act 2010?

A
  • Up to 10 years in prison
  • Unlimited fines
  • Job loss
  • Disqualification – RICS disciplinary procedure
  • Reputational damage
77
Q

What are 3 offences under the POCA 2002?

A
  • Concealing
  • Being part of an arrangement that facilitates the use of it
  • Acquisition, use or possession of criminal property
78
Q

RICS Firms Requirements re bribery?

A

As stipulated within Section 1 (Regulations) of the RICS Countering Bribery and Corruption, Money Laundering and Terrorist Finance (professional statement), 2019. RICS Registered firms must:
 Not offer or accept, directly or indirectly, anything that could constitute a bribe
 Have policies and procedures in place
 Report any known breaches
 Undertake due diligence
 Periodic written evaluations
 Retain info as to how the firm is meeting the above RICS requirements

79
Q

RICS Members Requirements re bribery?

A

RICS members must not:
 Not offer or accept, directly or indirectly, anything that could constitute a bribe
 Have sufficient knowledge of bribery and corruption to be able to comply with RICS professional statement
 Report any known breaches to MLRO

80
Q

What is your firm’s policy on gifts?

A

Determine :
- Is it proportionate to the job undertaken
- Could it be construed as a bribe?

If yes to either, politely decline and justify. Then record in gift register that not accepted.

If no to both, seek line manager approval to accept
Then submit form to DMP
Can accept but share with the team if team effort
Record in gift register if value £50+

81
Q

What makes good client care?

A
  • Having a good understanding of your clients objectives and expectations from the outset.
  • Maintaining regular and informative contact
  • Placing their needs at the forefront and providing a high level of service
82
Q

What is the principle H&S legislation?

A

Health and Safety at Work etc Act 1974
Management of HSAW Regulations 1999
PPE at Work Regulations 1992

83
Q

Who enforces Health and Safety At Work etc Act 1974?

A

Health and Safety Executive (HSE)

84
Q

What are the penalties for non-compliance with HSAW 74?

A

 Unlimited fine
 Up to 2 years imprisonment (or more for corporate of gross negligence)
 Directors disqualified for up to 15 years

85
Q

What have the RICS published in regards to Health and Safety?

A

RICS Surveying Safely (Guidance Note) 2018

H&S principles for property professionals includes:
 Assessing risk, risk assessments and dynamic risk assessments
 Places of work, emergency arrangements, occupational hygiene and health
 Visiting sites, lone working and PPE
 Fire Safety
 Procurement and management of contractors

86
Q

What is the hierarchy of risk control?

A

Risks should be reduced to the lowest reasonably
practicable level by taking preventative measures
1. Elimination
2. Substitution
3. Engineering controls
4. Admin controls
5. PPE

87
Q

What do you require to register a contractor on the approved contractor’s database?

A
  1. Certificates to prove qualifications & affiliations
  2. Copy of PII certificate (£5 million cover min)
  3. Health and Safety Policy (if has one)
  4. Risk assessment and method statement (RAMS)
  5. Any RIDDOR notifiable event in last 5 years?
  6. If ever been prosecuted by HSE?
  7. References
88
Q

What is a RIDDOR?

A

Reporting of Injuries, Diseases and Dangerous Occurrences Regulations 2013

89
Q

What’s included in a risk assessment?

A
  1. The hazard
  2. Who might be harmed and how
  3. What you’re already doing to control the risks
  4. What further action could be taken
  5. Who needs to carry out these actions
  6. When the action is needed by
90
Q

What does IOSH stand for?

A

Institute of Occupational Safety and Health

91
Q

The Smoke and Carbon Monoxide Alarm (England) Regulations 2015

A

From 1 October 2015

LLs must provide at least one smoke alarm on each storey of their properties and a carbon monoxide alarm in any room with a solid fuel-burning appliance

After that, LLs must ensure they are working at the start of each new tenancy.

Enforced by local authority
Up to £5,000 fine if LL fails to comply with a remedial notice

92
Q

What is the Fire Safety Act 2021?

A

Requires owners and managers of multi-occupied residential buildings to ensure that the fire risk assessments for such buildings are reviewed.

It was updated to encompass the structure, external walls and flat entrance doors.

92
Q

What is the Fire Safety Act 2021?

A

Requires owners and managers of multi-occupied residential buildings to ensure that the fire risk assessments for such buildings are reviewed.

It was updated to encompass the structure, external walls and flat entrance doors.

93
Q

Gas safety regulations?

A

Gas Safety Regulations (installation and use) 1998

Requiring Landlords of properties with gas appliances to undertake annual gas safety checks. (checks can be undertaken 2 months prior to expiry)

94
Q

Electrical Safety requirements?

A

The Electrical Safety Standards in the Private Rented Sector Regulations 2020

An EICR must be obtained every 5 years

A copy of the report must be provided to the Tenant within 28 days of the inspection.

Where works are required, the Landlord has 28 days to undertake the necessary works to meet compliance.

95
Q

Legislation covering Data Management?

A

Data Protection Act 2018

96
Q

What are the principles of the General Data Protection Regulation (GDPR) 2018?

A

Article 5 of the UK GDPR sets out seven key principles:

  1. Lawfulness, fairness and transparency (processed)
  2. Purpose limitation (only used for specific purpose)
  3. Data minimisation (no more than needed)
  4. Accuracy (kept up to date)
  5. Storage limitation (only kept for as long as needed)
  6. Integrity and confidentiality (appropriate security)
  7. Accountability (the controller should be responsible for and able to demonstrate compliance with the above)
97
Q

What is a data breach?

A

A personal data breach is a breach of security leading to the accidental or unlawful destruction, loss, alteration, unauthorised disclosure of, or access to, personal data.

98
Q

When must you report a data breach?

A

If you experience a personal data breach you need to consider whether this poses a risk to people.

You need to consider the likelihood and severity of the risk to people’s rights and freedoms, following the breach.

When you’ve made this assessment, if it’s likely there will be a risk then you must notify the ICO; if it’s unlikely then you don’t have to report.

You do not need to report every breach to the Information Commissioner’s Office.

99
Q

Who would you report a data breach to?

A

Report to Information Commissioner’s Office (ICO) without undue delay, not later than 72 hrs after becoming aware of the breach.

If the delay is over 72 hrs must give reasons.

100
Q

What is the Equality Act 2010?

A

The Equality Act 2010 makes it against the law to discriminate or harass someone because of a protected characteristic.

Requires employers and service providers to make reasonable adjustments to address the disadvantages people with protected characteristics may face.

100
Q

What is the Equality Act 2010?

A

The Equality Act 2010 makes it against the law to discriminate or harass someone because of a protected characteristic.

Requires employers and service providers to make reasonable adjustments to address the disadvantages people with protected characteristics may face.

101
Q

What is a protected characteristic?

A

Nine protected characteristics:
1. Age
2. Disability
3. Marriage and civil partnership
4. Pregnancy and Maternity
5. Race
6. Religion or belief
7. Sex
8. Sexual orientation
9. Gender reassignment

102
Q

What is Approved Document M?

A

Approved Document M provides information about the ease of access to, and use of, buildings, including facilities for disabled visitors or occupants, and the ability to move through a building easily including to toilets and bathrooms.

 Took effect on 1 October 2015
 Subsequent amendments in 2016 and 2020
 Applies in England

103
Q

What is the ISO 14001 accreditation?

A

ISO 14001 are standards set by

International Organisation for Standardisation (ISO)

 clarifies best practices
 to reduce their environmental footprint by adopting
 environmental management system (EMS)

104
Q

Why must a Chartered surveyor do CPD

A

It is a requirement of rule 2 of the Rules of Conduct 2022, ensure you remain up to date with relevant legislation and any changes in the industry.

105
Q

How would you approach a conflict of interest?

A

Follow the guidance set out in the RICS global professional statement on COI 2017,

  1. conflict avoidance – decided whether the conflict is manageable and whether proceeding is in the best interest of all parties
  2. written advice to both parties – discuss the nature of the conflict explain how it will be managed and request written confirmation of informed consent.
  3. Conflict management – set up an information in accordance with provisions agreed with the client.
106
Q

What are three benefits of regulation for the firm?

A

Confidence
Professionalism
Security

APC 2022 (5 decks)

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