New Rules of Conduct

Question 1

When did the new rules come into force?

Answer 1

• 2nd Feb 2022

Question 2

What did the new rules of conduct replace?

Answer 2

• The Rules for members
• The rules for firms
• Global ethical and professional standards

This is now one single document for firms and members

Question 3

Do all of the rules apply to members and firms?

Answer 3

• Yes.
• Although some of the behaviours only apply to members or firms.

Question 4

Do the RICS rules of conduct apply to everyone?

Answer 4

• Yes, including perspective members, students and trainees.

Question 5

What is the purpose of the New Rules of Conduct?

Answer 5

• Replace the global ethical standards, rules for firms and rules for members. Collating in one single document with an appendix A, these documents provide behaviours based examples on how to conduct yourself.

Question 6

What is the purpose of the ROC behaviours?

Answer 6

• Provide examples of ways that RICS believes members and firms would behave to achieve outcomes in the rules.

Question 7

What is the most important question to consider when operating in the new rules of conduct?

Answer 7

• “Have I complied with the rules”

Question 8

What is Rule No.1?

Answer 8

• Members and firms must be honest, act with integrity and comply with their professional obligations, including obligations to the RICS.

Question 9

What are the considerations of Rule No.1?

Answer 9

o Being Honest
o Acting with integrity
o Complying with professional obligations

• The profession obligations to the RICS are listed in an Appendix A, including having complaints handling procedures, PII and co-operating with the RICS.

Question 10

What are some example behaviours under rule 1?

Answer 10

• Not misleading others by actions or omissions.
• Identify conflicts of interest and processes to deal with them
• Being transparent and honest with fees

• Prevent others from being misled about their professional opinion.

Question 11

What is Rule No.2?

Answer 11

• Members and firms must maintain their profession competence and ensure that services and provided by competent individuals who have the necessary expertise.

Question 12

What are some of the considerations of Rule No.2?

Answer 12

• Maintain CPD
• Ensure competent people are used
• Staying up to date on relevant news and technical standards.

Question 13

What are some example behaviours under rule 2?

Answer 13

• Only undertake work that they have the knowledge, skills and resources to carry out competently.
• Ensure sub-contractors have the necessary knowledge, skills etc.
• Maintain and develop their knowledge and skills throughout their careers.

Question 14

What is Rule No.3?

Answer 14

Members and firms must provide good-quality and diligent service.

Question 15

What are some of the considerations of Rule No.3?

Answer 15

• Appreciate economic, social and environmental benefits when providing advice
• Being transparent with clients and giving good communication
• Handling data carefully.

Question 16

What are some example behaviours under rule 3?

Answer 16

• Members and firms must understand Clients needs and objectives before accepting any professional work.
• Members and firms communicate clearly.
• Members and firms must understand the risks and benefits of using relevant technology
• Members and firms check that all data is accurate and kept up to date.

Question 17

What is Rule No.4?

Answer 17

• Members and firms must treat others with respect and encourage diversity and inclusion.

Question 18

What are some of the considerations of Rule No.4?

Answer 18

• Respect everyone, not just clients or colleagues.
• Giving fair opportunity
• Modern slavery
• Encourage diversity

Question 19

What are some example behaviours under rule 4?

Answer 19

• Respect the rights of others and treat others with courtesy.
• Members and firms do not bully, victimise or harass anyone.
• Members and firms work cooperatively with others.

Question 20

What is Rule No.5

Answer 20

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.

Question 21

What are some of the considerations of Rule No.5?

Answer 21

• Taking responsibility
• Speaking up on any wrong-doing and supporting those who do
• Social media and other public forums
• Complaint’s handling

Question 22

What are some example behaviours under rule 5?

Answer 22

• Members and firms respond to complaints made against them promptly, openly and professionally.
• Members and firms manage their professional finances responsibly.
• Members and firms must support directors, partners, employees and colleagues or clients who have acted in good faith to report concerns.

Question 23

What is Appendix A?

Answer 23

• Appendix A contains the professional obligations to the RICS that members and firms agree to when they join.
• You are encouraged to frequently visit them when planning CPD.

Question 24

What are the professional obligations?

Answer 24

• Members and firms need to cooperate with the RICS and share relevant information when requested.
• Firms must have a complaint handling procedure; appropriate PI cover and sole principles must have a locum agreement in place if incapacitated or dead, firms must display designations.
• 3 for members (CPD / Co-operate and Provide information )
• 7 for members ( CHP, PII, Sole principle, Co-operate, Provide information, designations and report to RICS any matter which they are required to under the ROC).

Question 25

Why are the New Rules of Conduct Important?

Answer 25

• To provide good, high quality and competent service to the public and clients
• To uphold the professional standards of the RICS
• To provide guidance when different interests may need to be considered, making the ethical decision.

Question 26

What drove the new changes?

Answer 26

• Research about the biggest challenges which the profession is facing to stay relevant

1) Sustainability
Means balancing the economic, social and environmental effect of the projects that our members and firms are involved in.

Relates to Rule 3 – providing good quality and diligent service to Clients.
Considers that Clients often make the decision on sustainable practices, but the member and firm are encouraged to give their advice if there is a benefit.

2) Handling Data
New technologies are increasingly adopted, RICS members and firms are encouraged to consider the risks and benefits.
They are also encouraged to check all data is accurate and kept up to date and is managed legally.

3) Diversity & Inclusion
Members and firms must develop an inclusive culture in their workplaces, support equal access and opportunity for all, and identify and unconscious bias.

Question 27

What is an ethical decision-making process?

Answer 27

Where the member or firm must balance competing interests or there is a number of options open to them.

1) Consider the facts
2) Identify the relevant RICS standards in the rules of conduct and other guidance.
3) Use your professional judgement, which may require you to balance different interests and principles.
4) Document your decision.

Question 28

Do the rules apply to all firms regardless of size?

Answer 28

• Yes, however the RICS is careful not to specify how rules are to be met, but give clear examples on what is reasonable to meet the requirements of the rules.
• Must demonstrate they are acting ethically.