Ethics & RICS Flashcards
(89 cards)
Who do complaints first go to?
Deal Director (then escalated to the Compliance Officer)
What are 3 things stated in the Rules of Conduct appendix?
1) Comply with RICS
2) Complete CPD
3) Provide any info required by Standards & Regulations board
What is the difference between honesty and integrity?
Honesty is about being transparent; Integrity is about sticking to what you know to be right
What are 3 RICS recommended ADR methods?
1) Mediation
2) Arbitration
3) Independent Expert Determination
For the rent invoice example, was it the first time that rent had been invoiced at disputed rate?
Yes. Rent was increasing for the 3rd year of the tenancy.
How many members does the Governing Council have?
29
How many RICS bye-laws?
10
What are two examples of an RICS bye-law?
Membership & Registration
Confidentiality
When was the RICS founded and when was the Royal Charter?
1868 & 1881
What are 2 examples of requirements & 2 examples of evidence for FRICS
5 years experience AND Raising status of RICS
CPD AND Portfolio of work
How much does it cost per year to be a member?
£462 (first two years)
Where should a conflict be recorded, if proceeding with the instruction?
In the terms of engagement
What was the purpose of the Bichard Review (2022)?
1) Clarify the purpose of the RICS
2) make recommendations to deliver the purpose
3) make recommendations to incoming leadership on culture and strategy
How many recommendations across how many key areas were there for the Bichard Review?
36 across 7 key areas
What are three actions that can be served by the head of regulation
1) fixed penalty notice
2) regulatory compliance order
3) refer to disciplinary panel
What are three actions that the disciplinary panel may take?
1) regulatory compliance order
2) fine
3) expulsion
What were two aims of the rules of conduct?
1) simplified structure
2) focus on challenges such as D&I and sustainability
What is a bribe?
The offering promising, giving, or receiving of an advantage for something which is illegal unethical or a breach of trust
What are the six principles of the bribery act?
1) proportionality
2) top-level commitment
3) due diligence
4) communication
5) risk assessment
6) monitoring and review
What are the four offences under the bribery act?
1) bribing
2) receiving a bribe
3) bribing a foreign public official
4) failing to prevent bribery
Who polices bribery and what is the max penalty?
The serious fraud office
10 years in prison, and or an unlimited fine
What is JLL’s gift register?
Gifts above £50 and entertainment above £200 must be declared
What is the legal cash limit and what is the JLL policy with regards to catch?
€10,000
None to be accepted
What is the definition of money laundering?
When the proceeds of crime or disguised as legitimate assets