Rules Of Conduct Flashcards
When did the new rules of conduct take effect?
1 February 2022
What are the 5 new rules of conduct?
Members and firms must…
1) be honest, act with integrity and comply with their professional obligations, including obligations to RICS
2) must maintain their professional competence and ensure that services and provided by competent individuals who have the necessary expertise
3) provide a good quality and diligent service
4) treat each others with respect and encourage diversity and inclusion
5) act in the public interest, take responsibility for their actions and act to prevent harm and maintain public confidence in the profession
Why did the previous rules of conduct change?
1) The previous rules were in place since 2007
2) Following research and consultation with RICS members, firms and the public, the majority voted in favour of replacing the old rules of conduct and separate ethical standards
3) to provide one single document to enable greater clarity for RICS members and firms
4) now a greater focus on clearer example behaviours
What are the professional obligations of members?
1) comply with the CPD requirements (20 hours each year with at least half being formal)
2) members must co operate with RICS
3) must promptly provide all information reasonably requested by the board
What are the professional obligations to firms?
1) must publish a complaints handling procedure
2) have appropriate and adequate PII that meets the standards approved by RICS
3) firms with a sole principle must make arrangements for their professional work to continue in the event of their incapacity
4) must co operate with RICS
5) promptly provide all information reasonably requested
6) must display on their business literature that they are regulated by RICS
7) must report to RICS any matter that they are required to report under the rules for the registration of firms
What’s the rics ethical decision tree ?
Provides step by step guidance and considerations on how to deal with ethical issues that we might face as professionals
Steps include
1) do you have sufficient facts on the issue?
2) is it legal?
3) is it in line with RICS rules of conduct?
4) have you consulted with appropriate people to make an informed decision?
5) do you have clear reasoning in reaching your decision?
Why does the RICS have rules of conduct?
To provide a framework that we can all work to and so that clients know they are getting a set level of service
Give an example of Rule 1
Avoiding conflict of interests
Give an example of rule 2
Do not act beyond competence, engage specialists
Give an example of rule 3
Use individual terms of engagement to explicitly meet needs of client
Give an example of rule 4
Do not discriminate, set a good example
Give an example of rule 5
Question any suspect practice
