Rules of Conduct

Question 1

What is Rules of Conduct rule #1?

Answer 1

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

Question 2

What is Rules of Conduct rule #2?

Answer 2

Members and firms must maintain their professional competency and ensure that services are provided by competent individuals who have the necessary expertise.

Question 3

What is Rules of Conduct rule #3?

Answer 3

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

Question 4

What is Rules of Conduct rule #4?

Answer 4

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

Question 5

What is Rules of Conduct rule #5?

Answer 5

Members and firms must act in the public interest, take responsibility for their actions act to prevent harm and maintain public confidence in the profession.

Question 6

When did the new Rules of Conduct become effective?

Answer 6

02 / 02 / 2022

Question 7

What do the new Rules of Conduct replace?

Answer 7

The seperate rules of conduct for
- members
- firms
- Global Professional and Ethical Standards

Question 8

What are the core principles of the Rules of Conduct?

Answer 8

Ethical principles:

• (R) RESPONSIBILITY
• (I) INTEGRITY
• (C) COMPETENCE
• (S) SERVICE
• Respect

Question 9

Give 5 example behaviours to comply with Rule 1?

Answer 9

• Members and firms do not mislead others by their actions or omissions, or by being complicit in the actions or omissions of others
• Firms have effective processes to identify actual and potential conflicts of interest, to enable appropriate decisions to be made on whether to accept work, and to keep records of decisions made about actual and potential conflicts of interest.
• Members and firms are open and transparent with clients about their fees and services.
• Members and firms do not take unfair advantage of others.
• Members and firms do not facilitate any crime including money laundering, tax evasion, bribery or corruption. Firms have effective processes to prevent directors, partners or employees from doing so.

Question 10

Give 5 example behaviours to comply with Rule 2?

Answer 10

• Members and firms only undertake work that they have the knowledge, skills and resources to carry out competently.
• Members and firms supervise any employees undertaking work for them and ensure that these employees have the necessary knowledge, skills and resources to do their tasks competently.
• Members and firms reflect on the work they have undertaken and its impacts, and consider how they might apply what they have learned to their future work.
• Members maintain and develop their knoweldge and skills throughout their careers. They identify developmental needs, plan and undertake continuing professional development (CPD) activities to address them and are able to demonstrate they have done so.
• Members and firms stay up to date and comply with relevant legislation, codes of practice and other professional and relevant standards. Firms ensure that their directors, partners and employees do so.

Question 11

Give 5 example behaviours to comply with Rule 3?

Answer 11

• Members and firms understand clients’ needs and objectives before accepting any professional work
• Members and firms agree with clients the scope of the service to be provided and its limitations, and timescales for the work
• Members and firms communicate with clients and others clearly and in a way they can understand
• Members and firms understand the risks and benefits of using relevant technology
• Firms have effective quality assurance processes for their work.

Question 12

Give 5 example behaviours to comply with Rule 4?

Answer 12

• Members and firms respect the rights of others and treat others with courtesy.
• Members and firms do not bully, victimise or harass anyone.
• Firms check that supply chains do not involve modern slavery or other abuses of the workforce.
• Members and firms work cooperatiely with others.
• Members and firms develop an inclusive culture in their workplaces, support equal access and opportunity for all and identify and address unconscious bias.

Question 13

Give 5 example behaviours to comply with Rule 5?

Answer 13

Members and firms:
- support directors, partners, employees, colleagues or clients who have acted in good faith to report concerns
- respond to complaints made against them promptly, openly and professionally
- do not dissuade complainants from approaching an alternative dispute resolutoin provider, RICS or any other regulatory body
- manage their professional finances responsibly
- take appropriate action when they consider that the rules have been breached and report suspected significant breaches of the Rules of Conduct by themselves or others to RICS

Question 14

Who do the RICS Rules of Conduct apply to?

Answer 14

They apply to all members and firms regulated by RICS.

Question 15

What are the core professional obligations for members (as detailed in Rules of Conduct - Appendix A)?

Answer 15

1. Members must comply with CPD requirements set by RICS.
2. Cooperate with RICS.
3. Promptly provide all information reasonably requested by the Standards and Regulations Board, or those exercising delegated authority on its behalf.

Question 16

What are the core professional obligations for firms (as detailed in Rules of Conduct - Appendix A)?

Answer 16

1. Firms must publish a complaints-handling procedure, which includes an alterative dispute resolution provider approved by RICS, and maintain a complaints log.📞
2. 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. 🏦
3. Firms with a sole principal must make appropriate arrangements for their professional work to continue in the event of their incapacity, death, absense from or inability to work. 💀
4. Firms must cooperate with RICS. 🫂
5. Firms must promptly provide all information reasonably requested by the Standards and Regulations Board, or those exercising delegated authority on its behalf. 📠
6. Firms must display on their business literature, in accordance with RICS’ published policy on designations, a designations to denote that they are regulated by RICS. 🦁
7. Firms must report to RICS any matter that they are required to report under the Rules for the Registration of Firms. 👮

Question 17

Why does the RICS have Rules of Conduct?

Answer 17

• To provide a framework that we can all work to
• So the client knows they are getting a set level of service
• As well as being an important tool for the Institution, the Rules of Conduct are also a useful professional guide for members

Question 18

Your brother-in-law is a chartered surveyor. You find out that he is working outside the RICS Rules of Conduct. What do you do?

Answer 18

• I verify the facts and confront him reminding him of his duties as a member of the RICS.
• I inform the RICS specifying my relationship to the person and any corrective action which I believe my brother-in-law is committed to put in place.

Question 19

In the case of a breach of a rule of conduct what is the procedure?

Answer 19

• Not every shortcoming will necessarily give rise to proceedings.
• A formal investigation by the Head of Regulation of the RICS is the first step in the process.
• The RICS can request information and/or visit and inspect to investigate compliance.
• Members must cooperate fully with all enquiries.