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APC > Ethics, Rules of Conduct and Professionalism > Flashcards

Ethics, Rules of Conduct and Professionalism Flashcards

1
Q

What is the background to the RICS?

A

RICS was founded in 1868

RICS has a Royal Charter, initially granted by Privy Council in 1881

RICS is self-regulated

RICS Regulations and Bye-laws set out the governance of the Institution

The Standards and Regulations Board and Management Board report to Governing Council

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2
Q

What is the RICS motto?

A

‘Est Modus in Rebus’ – ‘There is measure in all things’

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3
Q

What is the RICS Mission Statement?

A
  • Qualify and equip their members to offer the highest standards of professional service
  • Promote and enforce standards
  • Lead solutions to the major challenges facing the built environment through professional expertise
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4
Q

How many members are there?

A

Over 140,000 members

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5
Q

What are the four levels of membership?

A
  1. FRICS
  2. MRICS
  3. AssocRICS
  4. Trainee/Student
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6
Q

To become a Fellow, what do you need to provide to the Fellowship assessor to consider?

A

Provide evidence of achievement of:
- 5 or more years at MRICS
- leadership role
- professional/technical achievement
- academic achievement
- raising the profile of the RICS

A portfolio of professional achievement to support the application included in CPD.

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7
Q

What is the current governance structure?

A

RICS is currently governed under the terms of its Royal Charter, by various internal councils and boards.

Governing Council - over 20 members & runs the RICS providing management and strategic direction.

17 specialist professional groups covering property, land and construction. Each professional group has an elected board and is responsible for outlining standards of competence and practice.

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8
Q

What is the UK structure of the RICS?

A
  • 4 National Associations
  • 10 regional boards
  • Local associations
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9
Q

Where is the RICS headquarters?

A

Parliament Square, Westminster

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10
Q

What is Lionheart and who does it benefit?

A

Lionheart is a charity run by the RICS for its members

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11
Q

Who is the president and CEO of RICS?

A

CEO - Justin Young

President (and Governing Council) - Tina Paillet FRICS

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12
Q

What are the 3 main roles of the RICS?

A

RAT
1. Regulate - protect consumers through strict regulation of professional standards
2. Advice - To be the leading source of information and independent advice on land, property, construction and associated environmental issues
3. To maintain the highest standards of education and training

It’s accountable to both members and the public.

It’s involved in policy influence and political engagement.

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13
Q

What does the RICS stand for?

A

Royal Institution of Chartered Surveyors

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14
Q

What are the benefits of being a RICS member?

A

Status - professional credentials provide unrivalled client confidence

Recognition - Promotion of your professional excellence to market

Market advantage - RICS status and standards give you a competitive advantage

Knowledge - professional guidance, CPD & knowledge sharing

Network - Access to professionals worldwide

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15
Q

Why was the Bichard Review undertaken?

A

Following the Independent review of internal governance failings within the RICS conducted by Alison Levitt, Lord Bichard was commissioned to undertake a further review to clarify the purpose of the RICS, make recommendations on its governing structure, provide proposals for governing body.

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16
Q

What were the key points to come out of the Bichard Review (reported in June 2022)?

A
  • There were 36 recommendations in 7 key areas
  • Renewed and increased focus on the public interest remit of the RICS
  • Increased focus on diversity and inclusion
  • Empowering and enabling members through greater support for regional boards, with focus on younger members
  • Greater leadership on issues that are important to society such as sustainability and climate change
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17
Q

What are the 5 foundations that the RICS published following the Bichard Review in Nov 2023?

A
  • Vision
  • Mission
  • Strategic Goals
  • Values
  • A world class organisation
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18
Q

What are the RICS’s 5 principles of better regulation?

A

PACTT
- Proportionality
o Penalty proportional to breach
- Accountability
o To all members and the public
- Consistency
o Treating all members the same
- Targeting
o Serious breaches
- Transparency
o All members, the public and clients

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19
Q

What is the difference between RICS ethics and rules?

A
  • Ethics are a set of moral values
  • Rules of conduct are a framework that we work to
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20
Q

How many Global Professional and Ethical Standards are there?

A

Up until 1st Feb 2022, there were 5 but from then onwards, they have been consolidated with the New Rules of Conduct 2022

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21
Q

When did the Rules of Conduct change?

A
  • New rules were published Oct 2021 and came into effect from 2nd Feb 2022 on a global basis
  • They replaced the previous Rules of Conduct for members and firms and the 5 global professional and ethical standards
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22
Q

Why is there a difference between the publications and time it takes to come into effect?

A

To give practitioners time to get used to the changes and the guidance

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23
Q

What are the new Rules of Conduct?

A
  • Members and firms must:
  • Rule 1: Honesty and integrity
    o Be honest, act with integrity and comply with professional obligations
  • Rule 2: Competence
    o Maintain professional competence and ensure that services are provided by competent individuals who have the necessary expertise
  • Rule 3: Quality of Service
    o Providing a good quality and diligent service
  • Rule 4: Respect and diversity
    o Treating others with respect and encouraging diversity and inclusion
  • Rule 5: Responsibility
    o Acting in the public interest, taking responsibility for your actions and acting and act to prevent harm and maintain public confidence in the profession
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24
Q

Why did the previous Rules of Conduct change?

A
  • The previous rules had been in place since 2007
    SCRTS
  • Simpler structure – The rules have now been condensed into 1 set of 5 standards that apply to both firms and the members
  • Clear examples – RICS want to support members’ professional judgement so each rule is illustrated with examples of how members and firms can behave to comply with each rule. There are also 12 case studies showing real-life application of the rules
  • Focusing on respect, diversity and inclusion
  • Understanding the evolving use of data and technology
  • Tackling global challenges including sustainable development and climate change
  • Bringing the ethical standards for members and firms together
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25
Q

What is Appendix A of the Rules of Conduct?

A

It sets out the professional obligations to be followed by members and by regulated firms

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26
Q

Why does the RICS have Rules of Conduct?

A
  • To provide a framework that we can all work to
  • The client knows they are getting a set level of service
  • Professional guide for individual institutional members
27
Q

What are the RICS mandatory professional obligations for members?

A
  • Comply with the CPD requirements set out by the RICS
  • Cooperate with the RICS
  • Promptly provide all information reasonably requested by the Standards and Regulation Board, or those exercising delegate authority on its behalf
28
Q

What are the RICS mandatory professional obligations for RICS regulated firms?

A
  • Publish a complaints handling procedure approved by the RICS and maintain a complaints log
  • Ensure that all previous and current professional work is covered by adequate and appropriate professional indemnity cover that meets the standards approved by the RICS
  • If having a sole principal, make appropriate arrangements for their professional work to continue in the event of their incapacity, death, absence from or inability to work
  • Cooperate with the RICS
  • Promptly provide all information reasonably requested by the Standards and Regulation Board, or those exercising delegate 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 the RICS
  • Report to RICS any matter that they are required to report under the Rules for the Registration of Firms
29
Q

What are the RICS Rules for Regulation of firms (2022)?

A
  • If 50% of Principles of a UK firm which provides surveying services are RICS members, then it has to be regulated, and if at least 25%, then it can apply to be regulated
  • Principles are sole practitioners, directors, partners or board members, or anyone with equivalent positions
  • Each firm must nominate a ‘Responsible Principal’ who is obliged to ensure all reasonable steps are taken and systems are in place to ensure compliance with regulatory and RICS requirements
  • Disputes concerning the registration of a firm will be heard by the RICS Standards & Regulation Board
  • Strict rules on the use of the RICS logo, including a restriction on the use of the designation ‘Chartered Surveyors’ by firms to the trading name only. Only RICS members are registered firms can use the logo
30
Q

What is the RICS Ethical Decision Tree?

A
  • Provides a framework of questions which members should ask themselves when facing a situation in which they are asked to act in a potentially unethical manner
  • Encourages considering the ethical behaviour and consistency with the Rules of Conduct
  • Would members be content to have their decisions or actions made public?
  • Assistance: RICS Regulation Confidential Hotline

Some questions:
Do you have sufficient facts on issue?
Is it legal?
Is it in line with RoC?

31
Q

How does the RICS ensure a high level of service in the profession?

A
  • Rules of Conduct
  • Professional Guidance
  • CPD
  • Dispute Resolution
32
Q

If you have an ethical dilemma what forms of action can you take?

A
  • RICS Ethical Decision Tree
  • RICS Rules of Conduct case studies
  • RICS Regulation Confidential Hotline
33
Q

What should you do if you face a situation where you don’t quite know the answer of?

A
  • Do I have sufficient facts on the issue?
  • Is it legal?
  • Is it in accordance with the RICS Rules of Conduct?
  • Have I undertaken a peer review?
  • Have I assessed the risks involved? Have I considered all the options
  • Press test – what would newspapers or social media think of the matter?
34
Q

What are the benefits of firm regulation?

A

CPS
- Confidence
- Professionalism
- Security

35
Q

Give an example of when you acted in a professional manner and maintained a high ethical standard?

A

I assisted in the sale of a property where the details were highly confidential to the client. I ensured I acted in a professional manner and maintained confidentiality while gathering the necessary information by restricting access to the relevant files and password-protecting documents.

36
Q

How did you disclose the offers you received?

A

I under-stood that these offers were confidential and only disclosed the information to the client. The information was also saved in a password protected file. Through-out this process I acted with integrity and demonstrated a high level of professionalism.

37
Q

If an agent called you up on the day of an informal tender and asked you for some guidance on the highest offers that have been received on a building you are selling, what would you say?

A

I have a duty to my client to get the best possible price so I would advise that agent that I am not able to disclose the offers that have been received and I would advise them to put their best foot forward and I would then report that to my client.

38
Q

Give an example of when you acted with honesty and integrity?

A

In December 2023, I received a Christmas hamper from a client. I accepted this gift and registered it in our company’s gifts register. Provided the timing, value and proportionality of the hamper, I didn’t consider it a bride. Moreover, the work had completed and I hadn’t previously been gifted anything from that client.

39
Q

Give an example of when you demonstrated only acting within your competence?

A

When inspecting a property in Soho with a prospective purchaser, I was asked to provide advice on the structural condition of the property. Aware of my limitations, I recommended seeking reasoned and trustworthy advice from a building surveyor as this was outside my scope of competence.

40
Q

Give an example of when you provided a good quality service?

A

When advising a client on the acquisition of a new office in Luton, they expressly requested confidentiality as they did not want their employees to find out about their intention to relocate. Therefore when I posted my client’s requirement, I substituted the company name with ‘confidential client’.

Soon after, an agent rang me asking to disclose my client’s identity. I advised that I couldn’t do this given the confidential nature of the instruction. I also advised my client not to wear any name or company tags during viewings that could reveal their identity to ensure confidentiality.

41
Q

Give an example of when you acted with respect and diversity?

A

When working with different agents and team, I always respect everyone’s views and opinions and promote teamwork at all times.

42
Q

Give an example of when you took responsibility for your actions?

A

When team members are away, I take responsibility and ensure to meet client’s timescales. I take reasonability for all advice I give and ensure that it’s as accurate as possible by verifying all information with relevant parties and my line manager before providing the advice.

43
Q

Who regulates disciplinary procedures?

A
  • The RICS Standards and Regulatory Board to protect the public, uphold the public confidence in the profession and uphold professional standards
  • RICS Regulatory Decision Making 2022 provides an outline of the regulatory approach
  • RICS Regulatory Tribunal Rules 2022 provides an outline of the disciplinary process
44
Q

Your brother is a chartered surveyor. You find out that he is working outside the RICS Rules of Conduct. What do you do?

A
  • I verify the facts and confront him reminding him of his duties as a member of the RICS
  • I inform the RICS specifying my relationship to the person and any corrective action which I believe he is committed to put in place
45
Q

In the case of a breach of a Rule of Conduct, what is the procedure?

A
  • Not every shortcoming will necessarily give rise to proceedings
  • Formal investigation by RICS Head of Regulation
  • RICS can request information and/or inspect to investigate compliance
  • Members must cooperate fully with all enquiries
46
Q

How can a disciplinary proceeding be triggered?

A
  • Complaints to the RICS
  • An allegation by a client or 3rd party
47
Q

What are the 3 levels of disciplinary action?

A
  • Action by Head of Regulation
  • Disciplinary Panel
  • Appeal Panel
48
Q

What actions can be imposed after the end of the investigation stage?

A
  • Fixed penalty
    o a fine and/or caution
    o breaches related to not supplying information to RICS
  • Regulatory Compliance Order
    o used for low level breaches that could be easily corrected
     non-compliance with RICS Rules, including failure to undertake appropriate CPD
    o written document stating terms member/firm must take, and an agreement to pay a fine
  • Disciplinary panel
    o Used for more serious breaches of conduct
    o The Head of Regulation may say a hearing is required
    o Membership of a Disciplinary Panel includes non RICS members
    o The penalties include:
     Publication hearing results in the RICS Modus magazine, website and in the local newspaper
     Unlimited fine per breach proportionate to the offence
     Expulsion from membership or remove a firm
     Issue a Regulatory Compliance Order
     Reprimand
     Fine
     Impose conditions upon future continued registration
  • Appeal Panel
    o They consider a member/firm’s appeal against decision relating to the above levels of disciplinary procedure
    o The Appeal Panel can allow the appeal and vary the penalty previously imposed
    o Membership of this Panel includes lay members
48
Q

What is the initial investigation stage?

A
  • Formal investigation by the RICS Head of Regulation
  • Make a Regulatory Compliance Order
  • Refer matter to a single member of the Regulatory Tribunal for consideration
  • Refer the matter directly to a Disciplinary Panel
49
Q

What are common areas of breach by members?

A
  • Breaches to CPD
  • Protecting clients’ money
50
Q

What sort of breaches would expulsion be suitable for?

A
  • Failure to comply with an RICS rule of conduct
  • Fraud
  • Conviction of a serious criminal offence
  • Deliberate discrimination
51
Q

What are the procedures to set up a business on your own / What are two types of compliance for registering firms?

A

If I wanted to set up in practice as a Chartered Surveyor at a regulated firm, there are a number of considerations that which fall into two requirements – s

52
Q

What RICS compliance is there?

A
  • Inform RICS of your practice by completing a Firm Details Form
  • Appoint a Responsible Principle for all RICS communication
  • Register with RICS for regulation of the firm
  • Arrange Professional Indemnity Insurance and send details to RICS
    o There to protect your client against your mistake
    o The min level of cover needed for your 1st year: £250,000 based on turnover
  • Set up Client Money Handling procedures, including a Protection Scheme
  • Register for RICS Valuer Registration Scheme (VRS) if undertaking Red Book Global valuation work
  • Obtain RICS approval for the Complaints Handling Procedure
  • Set up complaints log
  • Appoint a Complaints Handling Officer (if sole practitioner, elect a surveyor from another practice)
  • Obtain logo kit from the RICS
  • Plan for succession/future running of business if a sole practitioner
  • Ensure CPD logged on RICS Management System
  • Set up staff training log
  • Ensure completion of an online RICS Annual Return at the end of each year
53
Q

What statutory compliance is there?

A
  • Disclosing business name and nature
  • Health and Safety compliance (H&S Act 1974, as amended)
  • Equality Act 2010 compliance
  • Bribery Act 2010 compliance
  • Appoint a Money Laundering Reporting Officer (ML Regulations 2017, as amended)
  • Asbestos Register (Control of Asbestos Regulations, 2012)
  • Inform HMRC for VAT and tax registration
    o VAT registration threshold is currently £85,000 pa turnover
  • Register for data protection (GDPR and DP Act 2018)
  • Estate Agency Compliance (EA Act 1979, CPR 2008, MA 1967)
  • Fire Safety Compliance (Regulatory Reform (Fire Safety) Order 2005)
  • Financial Services Compliance (FS and Markets Act 2000, FS Act 2012)
  • Ensure compliance with current employment law (National Living Wage, working hours, stakeholder pensions, gender pay gap reporting etc.)
  • Insurance
54
Q

What is the RICS compliance when closing a business?

A
  • Inform RICS and deregister
  • Ensure clients are informed at earliest opportunity
  • Handover arrangements made to a new firm
  • Return any monies held by clients to their own accounts
  • Inform insurers and obtain PII run off cover for a min of 6 years from the expiry of the policy in force at the time
  • Retain a copy of the client files and records for a min of 6 years
55
Q

What documents relates to the use of social media?

A
  • Use of Social Media: Guidance for RICS members, 2021
    o The importance of social media networks to members and firms
    o It reminds members of the high standards of professional behaviour expected of RICS members
56
Q

When are RICS likely to investigate concerns about social media posts?

A
  • Discrimination
  • Dishonesty
  • Abusive behaviour
  • Bulling
57
Q

When are RICS unlikely to investigate concerns about social media posts?

A
  • Posts that are critical of an organisation, its policies and performance, rather than individuals
  • Use professional and respectful language
  • Posts that are removed if requested to do so
58
Q

What is the RICS Core Material?

A
  • New ‘Professional Standard’ replacing ‘Professional Statements and Guidance Notes’
  • RICS is in the process of reviewing and re-categorising all current Professional Statements and Guidance Notes
59
Q

What is the RICS Professional Standards?

A
  • Set of requirements or expectations for RICS members and regulated firms about how they provide services or the outcomes of their actions
    o mandatory requirements using the word ‘must’
    o recommended best practice using the word ‘should’
60
Q

What is the RICS Practice Information?

A
  • Information to support the practice, knowledge and performance of RICS members and regulated firms
  • Publications include good practice, information insights and processes
  • They do not contain advice
61
Q

What is the RICS Practice Alerts?

A
  • August 2023 RICS published Practice Alerts
  • Key tools for warning or altering the profession to emerging areas of risk over which the RICS has concerns
    o E.g. in 2023, a Practice Alert was issued in respect of commercial property management and the new legislative requirements for fire risk assessments and fire management plans
62
Q

Would you advertise your new company in the press?

A

Yes, as long as it’s in a trustful and responsible manner in line with the Rules of Conduct for Firms

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