New RICS ethics Flashcards
When were the new RICS rules of conduct implemented?
2 Feb 2022
Why were the RICS rules of conduct changed?
- Provide a simpler structure
- Give clear examples
- Focus on respect, diversity and inclusion
- To respond to evolving technology
- Emphasise the role of members’ expertise in tackling global challanges
What are the new RICS Rules of Conduct?
- Honesty, integrity and professional obligations
- Maintaining and acting within competence
- Providing good quality service
- Respect and encourageing diversity and inclusion
- Public interest, take responsibility and public confidence
What are the Rules of Conduct
They are the core standards of behaviour for RICS members and firms
(Rule 1) Give some examples of being honest, acting with integrity and complying with professional obligations?
Understanding conflicts of interest and using client funds appropriately. Ensuring compliance with anti-money laundering and bribery.
(Rule 2) Give some examples of acting with competence
Members should only undertake work they have the knowledge and skills to undertake. Maintaining and developing their knowledge thoroughout their career. Staying up to date with codes of practice and professional and technical standards.
(Rule 3) Please give examples of providing good quality and diligent service
Understanding clients needs and objectives. Members need to communicate information accurately and clearly to their client. Members must keep proper records of their work and decisions in enough detail to be properly audited.
(Rule 4) Give examples of treating others with respect and encouraging diversity and inclusion.
Respect other peoples rights and treat them with courtesy. Do not discriminate on age, disability, gender (fluidity), marriage pregnancy, race religion or belief - sex or sexual orientation.
(Rule 5) Give examples of acting in the public interest, taking responsibility, preventing harm and maintaining public confidence in the profession.
Members should respond to complaints promptly, openly and professionally. Members should cooperate with any investigations into complaints and concerns. Members should question practices and decisions that they suspect are not right, and raise concerns with colleagues, senior management
In relation to Bribery members should declare what?
Gifts
Hospitality entertainment and expenses
Customer travel and hospitality
Charitable Donations and sponsorships
what are the 6 key principles of Bribery Act 2010
1 Proportionality 2 Top level commitment 3 Risk Assessment 4 Due diligence 5 Communication 6 monitoring and review
What is money laundering?
This is when the proceeds of criminal activities are disguised or converted and realised as legitimate assets (putting criminal money through property).
what should you be doing as a business to prevent money laundering?
Conduct risk assessments, implement systems, controls and policies, provide staff training, comply with requirements of politically exposed persons, ensure accurate record keeping,
AML checks must be undertaken to confirm identity of purchaser.
What is a Bribe?
Something offered to induce another to do something
What are four possible offences re a Bribe?
- Bribing
- Receiving a Bribe
- Bribing a foreign public official
- Failing to prevent
