Standards & Regulation Board Flashcards
What ensures the independence of the SRB and SRB Executive?
Leadership, staff reporting lines, and decision making ensure effective implementation of the RICS Regulatory Framework.
Who are the majority of the SRB members?
The majority of the SRB members are independent leaders with experience in regulation, company governance, and legal structures globally.
Is the SRB instructed by the Governing Council?
No, the SRB is not instructed by the Governing Council.
To whom do the staff working in regulatory functions report?
They report to a Senior Executive Officer who reports directly to the Chair of SRB.
What decisions are made by those reporting to the SRB?
Decisions on standards, admission to the profession, regulatory policy, and regulatory and disciplinary action.
Who makes the decisions for serious disciplinary action against a member of RICS?
The Regulatory Tribunal makes these decisions under the independent leadership of a senior lawyer and through public hearings.
What does the Standards and Regulation Board (SRB) do?
The SRB delivers independent professional regulation within the RICS, acting in the public interest to uphold standards.
How does the SRB strengthen trust in the profession?
By rigorously applying the principles of Better Regulation and maintaining regulatory autonomy.
What are the responsibilities of the SRB regarding professional standards?
The SRB sets and upholds the standards of entry and assessment to the profession, approves technical standards, and develops regulatory policy.
What is the role of the SRB’s Dispute Resolution Service?
It develops, sets, and upholds professional standards, appoints dispute resolvers, and promotes alternative mechanisms of dispute resolution.
How does the SRB regulate RICS Members and Firms?
Through targeted, proactive regulatory compliance, enforcement, and assurance activities.
Who does the SRB work with to share intelligence and lead regulatory best practice?
The profession, the public, external stakeholders, and global agencies.
What assurance does the SRB provide to the Governing Council?
That the Regulatory Tribunal and its processes are operating effectively for cases involving serious allegations against RICS Members and Firms.
What is the role of the SRB regarding the Regulatory Tribunal?
The SRB oversees the work of the Regulatory Tribunal, which hears cases involving serious allegations of misconduct and incompetence against RICS members.
How does the SRB conduct itself?
In accordance with the Terms of Reference approved periodically by the RICS Governing Council.
Where can the SRB’s full remit and role be found?
In the RICS Bye-laws, RICS Regulations, and RICS Regulatory Framework document.
How can one learn more about how the SRB regulates?
By visiting the section titled ‘How we regulate.’
