Ethics

Question 1

What litigation for ethics has 5 rules associated with it?

Answer 1

RICS Rules if Conduct 2021 (effective Feb 2022)

Members and firms must..
1) honesty, act with integrity and comply
2) maintain professional competence
3)provide good quality and diligent service
4)treat others with respect, encourage D&I
5) act in the public interest, act to prevent harm, maintain public confidence

Question 2

In terms of regulating members of firms what is the title of the regulation rules?

Answer 2

RICS Rules of Regulation 2022

50% are principles - regulated
25% are principles - apply to be

Question 3

What RICS professional standard is there for handling clients money?

Answer 3

RICS Professional Standard: client money handling 2019 (effective 2020)

Separate account
Clients name
Available on demand
Accurate records
2 signatures

Question 4

What was the review undertaken to make the RICS governance consistent?

Answer 4

Bichard Review (June 2022) (36 recs 7 area)

Self regualtion
Focus on public interest
Clearer governance

Question 5

From the Bichard Review 2022, what was created?

Answer 5

Future foundations Nov 2023
(Vision. Mission. Strategic Goals. Values)

Question 6

What regulation and guidance notes is provided for RICS disciplinary procedures?

Answer 6

RICS Guidance note ‘regulatory Decision Making’
RICS Regulatory Tribunal Rules 2020

• outlines approach
• disciplinary process set out

Question 7

What act covers contract negligence?

Answer 7

Limitation act 1980
6 years from date of act
3 years since date of knowledge

TORT - 6 years

Question 8

What RICS Guidance note is there for social media?

Answer 8

Use of Social Media: Guidance note for RICS members, 2024 (version 2)

Reminds members of the highest standards of professional behaviour

Question 9

What legislation act covers Bribery

Answer 9

Bribery Act 2010

Giving, offering promising, receiving of an advantage such as a payment or gift for an action that is illegal

6 principles. 4 offences

Question 10

What act is referred to for AML?

Answer 10

Money laundering, Terrorist Financing and Transfer of Funds, 2017

Criminal activities disguised and converted which reappear as legitimate means

Question 11

What RICS professional statement gives guidance on bribery and corrosion and aml?

Answer 11

RICS Professional Statement: Countering Bribery, corruption, money laundering and terrorist financing, 2019

Part 1: bribery and corruption. Money Laundering & Terrorist financing

Part 2: Practical advice

Part 3: Supplementary advice

Question 12

What is a global professional standard on COI?

Answer 12

RICS Global Professional Standard: COI, 2017 (effective 2018)

INFORMED CONSENT!