RICS

Question 1

RICS stands for

Answer 1

Royal Institution of Chartered Surveyors

Question 2

When was the RICS founded and in what year was it incorporated by Royal Charter?

Answer 2

1868 and 1881

Question 3

How many RICS members are there?

Answer 3

130,000+

Question 4

President and CEO

Answer 4

Tina Paillet & Justin Young

Question 5

Four Levels of Members

Answer 5

FRICS (Fellow), MRICS (Member), AssocRICS, Trainee/Student

Question 6

FRICS criteria

Answer 6

*Evidence of achieving 4 fellowship characteristics
1. Five + years at MRICS
2. Leadership role
3. Professional/technical achievement
4. Academic achievement or raising the profile of RICS
* A portfolio or professional achievement to support the application is required to include your CPD record.

Question 7

Current Governance Structure

Answer 7

Under the terms of the Royal Charter Governing Council (leads to Regulatory Tribunal) > Standards and Regulation & Board Management Board

Question 8

Why did the RICS Standards and Regulations board resign in 2023?

Answer 8

News article: “It is understood the members had walked after it emerged the RICS’ governing council planned to break up the board and transfer responsibilities for technical standards to the newly established knowledge and practice committee.” Outgoing board: ““But we were treated from the outset by the leadership more as the enemy rather than as the regulator within RICS. It became increasingly difficult to do our job.”

Question 9

What is the RICS Royal Charter?

Answer 9

Royal Charter gives the organisation an independent and legal status to govern itself and is granted by a monarch.

Royal Charter - to work in publics best interest to advance knowledge, uphold standards and inspire future professionals.

King Charles became Royal Patron of RICS in May 2024.

Our Royal Charter requires RICS to act in the public interest. Under the Royal Charter, RICS’ governing body is the Governing Council, which is responsible for approving RICS strategy and vision, overseeing the effective delivery of the strategy’ as well as standards and regulation.

Question 10

How many specialist groups are there?

Answer 10

17 - covering property, land, construction - sets standards for area.

Question 11

Role of RICS

Answer 11

3 Main Roles:
1. Maintain highest standards of education and training.
2. Protect customers through strict regulation of professional standards.
3. To be the leading source of information and independent advice on land, property, construction and associated environmental issues.

Question 12

What was the Levitt review (2021)?

Answer 12

Commissioned by RICS following allegations the RICS tried to suppress a report into its finances in 2018/2019 and then unfairly dealt with those who sought to explore the issue. The report found that governance principles were not followed and those concerned were wrongly dismissed.
Bichard Review (2022) sets out 18 specific recommendations.

Question 13

What were the initiatives of the Bichard Review (June 2022)

Answer 13

Commissioned to clarify the purpose of the RICS (act in public best interest, made recommendations on how to deliver this purpose, provided proposals for incoming leadership and governing body on the future culture and strategy).
EG recommendations:
- Renewed and increased focus on the public interest remit of RICS - amending Royal Charter, public interest panel created to advise governing council.
- Maintaining self-regulation through greater independence for regulatory functions.
- Increased focus on diversity and inclusion across the profession.
- New simplified, clear, accountable governance structure.

Question 14

Why do you want to becoming chartered?

Answer 14

I want to be part of this prestigious organisation to progress my career in an industry I am
passionate about. It will give me recognition and status to develop my work with clients, and will allow me to undertake more forms of work (Red Book Valuations once registered valuer).

Question 15

Benefits of Membership to RICS

Answer 15

• MA - Market advantage – RICS status and standards gives you a competitive advantage.
• R - Professional recognition – Promotion of your professional excellence to governments and markets.
• K - Knowledge – International Practice Standards, professional guidance, CPD & knowledge sharing.
• S – Status – Professional credentials provide unrivalled client confidence
• N - Global network – Access to professionals worldwide.

Question 16

5 Rules of Conduct for members and firms

Answer 16

1. Act with honest and integrity.
2. Maintain competence
3. Provide quality and diligent service.
4. Treat everyone with respect and promote diversity and inclusion.
5. Act in publics best interest.

Question 17

Mandatory Professional Obligations for members

Answer 17

1. Must comply with CPD requirements.
2. Must cooperate with RICS.
3. Must provide reasonable information to Standards and Regulation board.

Question 18

Mandatory Obligations for RICS firms

Answer 18

1. Must have CHP which includes an alternative dispute resolution provider approved by RICS, and must maintain complaints log.
2. Have adequate PII for past and current work.
3. If sole principal, succession arrangements must be made.
4. Must cooperate with RICS.
5. Must provide reasonable information requested by Standards and Regulation Board.
6. Must display on business literature a designation to denote they are regulated by RICS.
7. Must report to RICS any matter that they are required to report under the Rule of Conduct.

Question 19

Who is chair of the Standards and Regulatory board?

Answer 19

Nigel Clarke

Question 20

Action by Head of Regulation (Initial Investigation)

Answer 20

• Serve a Fixed Penalty Notice – only in relation to information not being provided to the RICS.
• Make a Regulatory Compliance Order (RCO) – low level breach, pay a fine, written document to outline terms where rules breached (e.g., not completing CPD).
• Refer to regulatory tribunal.
• Refer to disciplinary panel

Question 21

Action by Disciplinary Panel
(Non-RICS members on Panel)

Answer 21

• 10 people on the panel (some are external to the RICS)
• High level breach, a hearing is required.
• Regulatory compliance order (RCO)/ unlimited fine and/or temporary suspension/expulsion
• Publication of the result of the hearing.

Question 22

Appeal Panel (Non-RICS
members on Panel)

Answer 22

• Reviews existing and new evidence and can vary the penalty

Question 23

RICS Core Material

Answer 23

RICS Professional Standards (Previously Professional Statements) Mandatory, best practice advise documents.
RICS Practice Information (Previously Guidance Notes – voluntary)
* Supports the practice, knowledge and performance, no explicit recommendations.

Question 24

CPD - How much must you do? What type? How do you log it

Answer 24

20 hours per year.
10 hours must be formal.
Must maintain a relevant and current understanding of the RICS Rules of Conduct during a rolling 3-year period.
Must be logged on the RICS CPD portal by 31st January.

Question 25

What are the requirements for regulation?

Answer 25

• Firms providing surveying services to the public must register for regulation
• Regulation provides a ‘gold standard’ for clients
• Firms must annually make a return to the RICS confirming their compliance with their obligations
  o If 50% of Principals of a UK firm which provides surveying services are RICS members then it has to be regulated, and if at least 25% are it can be applied to be registered.
  o Principals = sole practitioners, directors, partners or board members, or someone able to act autonomously without supervision in a firm.
  o Each firm required to nominate a ‘Responsible Principal’ who ensures reasonable steps are taken and systems are in place to ensure compliance.
  o Strict rules relating to the RICS Logo. Restriction to using the designation ‘Chartered Surveyors’ by firms to the trading name only. Only RICS members and registered firms can use the logo.

Question 26

What guidance does the RICS provide for members using social media?

Answer 26

Use of Social Media: Guidance for RICS members, 2021:
* RICS is likely to investigate concerns about social media when they involve:
o Discrimination
o Dishonesty
o Abusive or threatening behaviour, or are likely to cause significant harm, distress or offence to a person
o Bullying, harassment or victimisation of a person or people.
o A pattern of frequent or many concerning communications
o Ignoring previous advice or warnings about concerns.
* RICS is unlikely to investigate social media posts which:
o Are critical of an organisation, its policies and performance, rather than of individuals.
o Use professional and respectful language
o Are removed if requested to do so
* RICS may take disciplinary action to protect the public and the reputation of the profession.

Question 27

What is a bye law?

Answer 27

The RICS Bye-Laws provide the power for Head of Regulation and Regulatory Tribunal to make disciplinary and regulatory decisions including issuing disciplinary penalties and costs. Those decisions are made in accordance with the Rules and guidance created by the Standards and Regulation Board.

Question 28

In response to the Bichard Review, what were the five future foundations published by the RICS in November 2023?

Answer 28

Vision - A natural and built environment that is sustainable, resilient and inclusive for all.
Mission - Inspire members, advance knowledge, uphold standards.
Strategic Goals - Lead and influence on sustainability. Attract a diverse next generation. Strengthen trust in the profession. Enhance member value and engagement.
Values - Professional, Collaborative, Inclusive, Ambitious.
A world class organisation - An efficient, effective and inspiring professional body that is easy to do business with.

Question 29

Requirement for Registration

Answer 29

Firms must register if providing surveying services, but if there are no RICS members a firm cannot register.
RICS ‘Rules for the regulation of firms 2022 state:
If 50% of Principles are RICS then it has to be regulated. If 25% then it can apply to be regulated.

Question 30

What is a bye law?

Answer 30

A rule made by a company or society to control the actions of its members.

They provide the power for Head of Regulation and Regulatory Tribunal to make disciplinary and regulatory decisions including issuing disciplinary penalties and costs. Those decisions are made in accordance with the Rules and guidance created by the Standards and Regulation Board.