Ethics, rules of conduct and professionalism L1 Flashcards
(154 cards)
Why do you want to become a member of RICS?
1 - Status; - gives client confidence
2 - Recognition - promotion of your professional excellence to governments and markets
3 - Market advantage - gives me a competitive edge
4 - Knowledge - International practice standards and knowledge sharing
5 - Network - Access to 125,000 professionals worldwide
What is the role of RICS?
The Royal Institution of Chartered Surveyors promotes and enforces the highest professional qualifications and standards in the development and management of land, real estate, construction and infrastructure.
To protect consumers thorough strict regulation of professional standards
To be the leading source of of information and independent advice on land, property, construction and associated environmental issues.
What are the key functions of RICS?
1) Advancing the highest ethical and technical standards for professionals in land, property and the built environment
2) Protecting and providing benefits to consumers by enforcing standards and codes of best practice
3) Providing expert impartial advice to governments, business and the public
4) Equipping RICS members with leading edge advice, market insight and professional training
4) Promoting RICS status and standards in key worldwide markets as the mark of property professionalism.
What is a Royal Charter
A royal charter is a document issued by the monarch that gives independent legal standing to an organisation and defines its objectives, constitution and powers to govern its own affairs.
Who is the current RICS president?
RICS President Ann Gray FRICS
What do you understand by the term self-regulation?
RICS self-regulates, meaning that it operates within it’s own published regulatory framework, rather than being legislated by Government.
Can you tell me what you understand by the principles of better
regulation?
Proportionality - Regulators should intervene only when necessary; remedies should be appropriate to the risk posed, and costs identified and minimised
Accountability - Regulators should be able to justify decisions and be subject to public scrutiny
Consistency - Government rules and standards must be joined up and implemented fairly
Transparency - Regulators should be open and keep regulations simple and user-friendly
Targeting - Regulation should be focussed on the problem and minimise side effects.
What is a Byelaw?
Byelaws are effectively local laws to deal with local issues. They are made by a body, such as a RICS, using powers granted by an Act of Parliament, and so are a form of delegated legislation.
Give an example of one of the RICS Byelaws.
The RICS Rules of Conduct (bye-law 5.1)
To be eligible for admission as a Chartered member, a person shall demonstrate the attainment of the appropriate professional competence
Explain to me the new RICS Rules of Conduct - what do they replace?
The new RICS Rules of Conduct, effective from 2nd February 2022 replaces the previous publication from 2007. In the new version, 5 rules of conduct are set out which apply to all RICS members and firms around the world.
When do the new RICS Rules of Conduct take effect
2nd February 2022
Who do the new Rules of Conduct relate to?
The Rules of Conduct apply to all members (as defined in Bye-Law 5.1) and firms regulated by RICS.
What are the 6 ethical principles that the Rules of Conduct are based on?
Honesty
Integrity Competence
Service
Respect Responsibility
What are the 5 Rules of Conduct
1) To act with integrity
2) To maintain and ensure services are provided by competent individuals
3) To provide a high quality and diligent service
4) To respect others and advocate for diversity and inclusion
5) To maintain public confidence in the profession
Give an example behaviour for Rule 1 of the RICS Rules of Conduct
To act with integrity - I noticed a consultant had incorrectly invoiced my client, resulting in a lower than agreed fee for the scope of services agreed with my client. I advised the consultant of their error and requested they reissue a rectified invoice.
Give an example behaviour for Rule 2 of the RICS Rules of Conduct
When undertaking a desktop study of the Motspur Park Gas Holders site, I advised my client that issues of contamination lay outside my area of expertise, and suggest a contamination study be instructed with a geotechnical consultant to clarify the level of risk.
Give an example behaviour for Rule 3 of the RICS Rules of Conduct
To provide a high quality and diligent service - prior to any instruction, I ensure I engage with my client to understand their needs and objectives before undertaking the work, I also ensure timescales for the scope of service are agreed.
Give an example behaviour for Rule 4 of the RICS Rules of Conduct
To treat others with respect and support diversity and inclusion - If I hear or see discriminatory behaviour in the workplace I know to challenge this and report the incident to my line manager or relevant senior.
Give an example behaviour for Rule 5 of the RICS Rules of Conduct
To maintain public interest in the profession:
Members and firms cooperate with investigations into complaints or concerns, and provide information where it is reasonably requested and they can do so lawfully
What are the mandatory professional obligations of firms and members to RICS?
Members must:
- Comply with the CPD requirements set by RICS
- Cooperate with RICS
- Promptly provide all information reasonably requested by the standards and regulation board, or those exercising delegated authority on its behalf
RICS-regulated firms must:
- Publish a complaints handling procedure approved by RICS
- Ensure that all previous and current work is covered by adequate and appropriate professional indemnity insurance
- If having a sole principal, make appropriate arrangements for their professional work to continue to event of their incapacity, death, absence or inability to work
- Cooperate with RICS
- Promptly provide all information reasonably requested by the standards and regulation board, or those exercising delegated authority on its behalf
Display on their business literature, in accordance with RICS published policy on designations, a designation to denote that they are regulated by RICS - Report to RICS any matter that they are required to report under the Rules for the Registration of Firms
What disciplinary procedures can the RICS impose?
Regulatory compliance order
Reprimand
Fine
Impose an unlimited amount of fine per breach but it must be proportionate to offence
Impose conditions upon future continued RICS registration
Expulsion from membership or remove the firm
Require publication of the results of the hearing in the RICS modus magazine , on the RICS website and in the local newspaper where the firm is based
In what circumstances can disciplinary procedures be imposed?
An Interim Measure is considered by the Regulatory Tribunal (sitting as a Disciplinary Panel), and can be imposed where it is:
- necessary for the protection of the public and/or
- otherwise in the public interest and/or
- in the interests of the Regulated Member
When did RICS last update their disciplinary panel rules?
The Version 2 of the RICS Regulatory Tribunal Rules came into force on 2 February 2022. In accordance with RICS Bye-Law B5.
What are the different levels of action within the RICS disciplinary panel?
Action by head of regulation - first step is a formal investigation by the Head of Regulation who can initiate one of four actions upon completion of the investigation:
1) Serve a fixed penalty notice
2) Make a Regulatory Compliance Order
3) Refer the matter to a single member of the Regulatory tribunal for consideration
4) Refer the matter directly to the Disciplinary Panel
Disciplinary panel (drawn from the independent regulatory tribunal)
Appeal panel:
Appeal panels can consider a member’s or firm’s appeal against review of a decision relating to the above levels of disciplinary procedure
They will review the decision having made regard to the evidence previously presented and any new representations. The appeal panel can allow the appeal and vary the penalty imposed