Ethics

Question 1

What are the 7 rules RICS regulated firms must follow?

Answer 1

1. Complaints handling procedure - have an ADR provider which is regulated by RICS and a complaints log.
2. PII - all previous and current work is covered.
3. if there is a sole principle arrangements need to be in place so work can carry on if they are ill/ dead/ absent.
4. cooperate with RICS
5. Provide all information to the standards and regulation board. or those carrying out the work.
6. State that they are regulated by the RICS on all business literature.
7. report all matters that they are required to report under the ‘ Rules for registered Firms’

Question 2

Give 2 reasons why the RICS developed the new Rules of conduct 2021

Answer 2

1. focusing on respect, diversity and inclusion - underpins all professional ethics.
2. understanding evolving technology. - highlights the benefits and risks of the evolving use of data and tech.
3. tackling global challenges - rules show that ethical practise is important for global challenges - eg sustainable development, climate change.
4. simpler structure - making it easier for members and public to understand the rules providing confidence for clients and the public.
5. clear examples - support members professional judgement so each rule has an example of how members and firms can behave to comply with the rule. (12 case studies showing real life examples)

Question 3

Give 2 reasons why the RICS developed the new Rules of conduct 2021?

Answer 3

1. focusing on respect, diversity and inclusion - underpins all professional ethics.
2. understanding evolving technology. - highlights the benefits and risks of the evolving use of data and tech.
3. tackling global challenges - rules show that ethical practise is important for global challenges - eg sustainable development, climate change.
4. simpler structure - making it easier for members and public to understand the rules providing confidence for clients and the public.
5. clear examples - support members professional judgement so each rule has an example of how members and firms can behave to comply with the rule. (12 case studies showing real life examples)

Question 4

What is the RICS Ethics Decision Tree?

Answer 4

provides a framework of questions which members should ask themselves when they are asked to act in a potentially unethical way.

Question 5

what is the RICS regulation confidential hotline?

Answer 5

offers assistance to members with any ethical issue.

Question 6

What are the 3 main roles of RICS?

Answer 6

1. Maintain highest standards of education and training.
2. To protect consumers through strict regulation of professional standards.
   
3. be the leading source of information and independent advice on land, property, construction, environmental issues (RICS 2015)

Question 7

How did the Bichard Review come to exist?

Answer 7

RICS internal governance failings

Alison Levitt QC carried out an independent review

then the RICS commissioned Lord Bichard to undertake a further review

Question 8

what are the 5 key themes is the Bichard Review delivering on?

Answer 8

Governance
people
culture
values
member service

Question 9

Examples of initiatives in the “package of support” announced in April 2023?

Answer 9

Some free CPD events
working with MATRICS

Question 10

What year was the Bichard Review?
And how many recommendations were in it?

Answer 10

2022
36 recommendations.

Question 11

what are the 7 key areas the recommendations from the Bichard Review focused on?

Answer 11

1. self regulation through increased regulation
2. increased focus on public interest. created a public interest panel to advise governing council.
3. increased focus on diversity and inclusion
4. greater support through regional boards and increased member engagement and younger member engagement.
5. once every 5 years the RICS undertakes a independent review of governance and effectiveness.
6. simplified, clearer governance structure
7. greater leadership on social issues eg sustainability, climate change

Question 12

5 benefits of being an RICS member?

Answer 12

Status ​- ​provide client confidence

​​Recognition ​- professional excellence to governments and markets.

​Market advantage - ​RICS standards and status give you competitive advantage.

​Knowledge ​- international practise standards, professional guidance, CPD and knowledge sharing.

​Network ​- 125,000 professionals worldwide.

Question 13

RICS ‘Rules for the regulation of firms’ 2022
What are the requirements for regulation?

Answer 13

​If 50% of principles in a UK surveying firm are RICS members - the firm needs to be regulated. and if it has 25% the firm can apply to be regulated.

Question 14

What is a ‘Responsible Principle’?
What is the role of ‘Responsible Principle’?

Answer 14

​Responsible Principle - each regulated firm must nominate one

They need to ensure that all reasonable steps are taken and systems are in place to ensure compliance with regulatory and RICS requirements.

Question 15

7 Pieces of information required by the RICS for registration?

Answer 15

​Type of business ​and ​staffing ​details.
name of ​responsible principle
Statutory regulated activities - ​such as for financial services.
Nature of ​clients.
Complaints handling procedure details and records.
​PPI
whether the firm holds ​Client Money

Question 16

When were the RICS Rules of Conduct published?

and when did they come into effect?

Answer 16

October 2021 - published

Feb 2022 - Effective

Question 17

3 mandatory professional obligations for
members?

Answer 17

comply with CPD requirements sets out by RICS

Cooperate with RICS

Provide information requested by the standards and regulation board. (or those doing it on their behalf)

Question 18

What are the 5 Rules of Conduct?

Answer 18

​Honest, act with integrity, comply with personal and RICS obligations.

maintain professional competency, ensures services are provided by people who have those expertise.

provide a good quality and diligent service.

treat others with ​respect ​and encourage ​diversity and inclusion.

act in ​public interest - ​take responsibility for actions, prevent harm and maintain public confidence in the profession.

Question 19

what does the Standards and regulatory board do?

Answer 19

responsible for regulating the surveying profession in order to protect the public and confidence in the profession.

Question 20

3 ways a disciplinary procedure could be triggered?

Answer 20

Someone complains to the RICS

an allegation by a client or third party

information received or established by the RICS

Question 21

Name the 3 levels of disciplinary action

Answer 21

1. Action by Head of Regulation
2. Disciplinary panel (drawn from the independence regulatory tribunal)
3. Appeal Panel

Question 22

Disciplinary action - what does the initial investigation stage entail?

Answer 22

1. formal investigation by the head of regulation of the RICS
2. Head of regulation can initiate 1 of 4 actions upon completion of the investigation if they consider that disciplinary action is needed.

Question 23

what are the 4 options the head of regulation can initiate?

(they can only do 1 out of the 4)

Disciplinary action

Answer 23

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 a disciplinary panel.

Question 24

Disciplinary action

What is a fixed penalty?

Answer 24

procedure for breaches in the rules relating to only the supply of information to the RICS by firms and members.

These can be a fine or caution.

Question 25

Disciplinary procedures what does the "Regulatory decision making" - Version 4 Feb 2022. outline?

Answer 25

provides an outline of the regulatory approach by RICS of regulated members, non members and firms

Question 26

Disciplinary procedures What does the RICS Regulatory Tribunal rules 2022 outline?

Answer 26

outlines the disciplinary process.

Question 27

what types of questions are asked in the ethics decision tree?

Answer 27

legality, is it in line with the RICS rules of conduct? ULTIMATLY would you be content if this decision was made public?

Question 28

what are regulatory compliance orders?

Answer 28

written document which states the terms upon which the member/ firm must take or stop taking certain action within a certain time period and an.... ......agreement to pay a fine

Question 29

What circumstances are regulatory compliance orders given?

Answer 29

given for low level breaches - eg. minor breaches which can be easily corrected.

Question 30

Give an example of issues covered within a regulatory compliance order?

Answer 30

non compliance with RICS Rules, including failing to undertake appropriate CPD, - this could lead to a fixed penalty and a Disciplinary Panel action resulting in expulsion.

Question 31

When is a Disciplinary Panel used?

Answer 31

For more serious breaches of conduct.

Question 32

when is a Disciplinary Panel required?

Answer 32

The Head of Regulation can consider that a hearing is required under the discipline rules

Question 33

who makes up the membership of the Disciplinary Panel?

Answer 33

membership of a Disciplinary Panel includes lay members (non RICS members)

Question 34

what penalties are available to a Regulatory Tribunal Disciplinary Panel? (7)

Answer 34

1. Issue a Regulatory compliance order 2. Reprimand 3. Fine 4. impose an unlimited amount of fine per breach but it must be proportionate to the offence. 5. impose conditions upon future continued RICS registration 6. Expulsion from membership / firm 7. require publication of the results of the hearing in the RICS Modus magazine, the RICS website, local newspaper where the firm/member is based.

Question 35

What is an Appeal Panel?

Answer 35

appeal panels consider a members/firm appeal against its review of a decision relating to the disciplinary panel. they review the decision based on based past evidence presented and new evidence. the appeal panel can allow the appeal and change the out come of the penalty imposed by the disciplinary panel.

Question 36

what members make up the appeal panel?

Answer 36

Lay members (non RICS members)

Question 37

what does the 'Use of Social Media: Guidance for RICS members, 2021' set out?

Answer 37

importance of social media networks to firms/members reminds firms/members to have high standards of professional behaviour which is expected from RICS members. Rules of conduct protect the public and promote trust in the profession.

Question 38

what would make the RICS likely to investigate concerns about social media posts?

Answer 38

bulling harassment dishonesty discrimination abusive / threating behaviour

Question 39

what would make the RICS unlikely to investigate concerns about social media posts?

Answer 39

they remove the post when asked. professional and respectful language is used. posts which are critical of an organisation and its policies/performance rather than an individual.

Question 40

can the RICS take disciplinary action if they deem a social media post may damage public confidence / trust in the proffesion?

Answer 40

yes