Questions 6 Flashcards
(39 cards)
When was RICs founded and what does it have?
RICs was founded in 1868 and has a royal charter
How many members does the RICs currently have?
Over 140,000
What are the four levels of RICs membership
FRICs
MRICs
AssocRICs
student
How do you become a fellow?
- Have 5 years experience as a MRICs
- Leadership Role
- Professional Achievments
- Raise RICs profile
What is the current governance structure of RICs ?
The RICs is governed under the terms of its royal charter and internal councils and boards
Who is the current CEO of RICs?
Justin Young
Who is the current president of RICs?
Justin Sullivan
Justin Sullivan
Justin Sullivan
What are the 3 main roles of the RICs?
- Maintain the highest levels of education and training
- Protect consumers through strict regulation
- To be the leading source of information and independent advice on Land, Property, Construction and associated Environmental issues
What major challenges are facing RICs currently?
The Bitchard Review follows the Levitt Review which was an independent study that look at the governance failings of RICs and made recommendations that RICs agreed to adapt to.
What are some of Bitchard’s recommendations?
- Maintain self regulation
- Increase focus diversity equity and inclusion
- Showing leadership on issues that matter like climate change
What are 5 benefits of being a RICs member?
KARSN
Knowledge
Market Advantage
Recognition
Status
Network
What percentage of members of a firm must be chartered to be regulated. & what percentage to must be regulated?
50% - must be regulated
At least 25% can apply to be registered
What are the 5 rules of conduct?
- M&F must be Honest and act with integrity
- M&F must maintain their professional competency
- M&F must provide a good quality and diligent service
- M&F must treat others with respect and encourage diversity and inclusion
- Members and firms must act in the public interest and take responsibility for their actions
What must RICs members do as part of their mandatory obligations?
- Comply with CPD regulation
- Corporate with RICs
- Provide all information to the standards and regulation board
What is the RICs ethics decision Tree?
Located on the RICs website it provides a framework of questions which the members should ask themselves when facing a situation where they could act in a potential unethical manner.
There is also a RICs regulation confidential hotline that’s available to members with an ethical issue
How deals with Disciplinary procedures? And how does it work?
RICs is responsible for regulating the surveying profession.
If a complaint is made the RICs will investigate.
Not every investigation will face disciplinary, if correct RICs guidance has been followed this will be considered.
What are the 3 levels of Discipline?
- Action by head of regulation
- Disciplinary panel
- Appeals panel
Talk me through the disciplinary process?
Head of regulation from RICs begins formal investigation He can initiate one of four actions if necessary
- Serve a fixed penalty notice
- Make a regulatory compliance order
- Refer the matter to a single member of the regulatory tribunal for consideration
- Refer the matter directly to the disciplinary panel
What is Fixed penalty ?
Disciplinary procedure used for breaches of the rules relating to supply of information to RICs
What is a regulatory compliance order?
Disciplinary procedure - for low level breaches of the rules. It’s a written document which states the actions that a member must take or not take for a specified time
What is the Appeal panel?
Part of the disciplinary process - Appeal panels can consider a member or firms appeal against a review of a decision by a disciplinary panel
What is the guidance note on the use of social media and what posts will RICs investigate?
Use of social media: Guidance for members 2021
RICs will investigate posts that involve:
- discrimination
- dishonesty
- abusive behaviour
- bullying
- ignoring previous warnings
What is the professional standard for holding clients Money and what are some rules to follow?
RICS professional standard “client money handling 2019”
- client accounts must be kept separately and clearly identifiable
- the word client is on the bank account
- the client must be able to access money on demand
- payment of interest is agreed with client and accounts kept in credit
What is the keys guidance note on Health and Safety? And what does it set out?
RICs Guidance Note: Surveying Safety 2018
Basic good practice for management of health and safety for RICs firms and members
