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Conduct rules, ethics and professional practice (RICS (ByeLaws
Royal…
Conduct rules, ethics and professional practice
RICS
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Professional groups, groups boards and committees
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Professional Groups
Based on specialisms, market knowledge & skills of members as Governing Council considers appropriate.
RICS structure
Governing council
50 Members #
establish the boards, committees, groups or panels
Exec team
The term of office of President-Elect is one year, after which they become president. Tim Neal 2018-2019
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The Global Professional and Ethical Standards
2012 #
- Act with integrity.
Be honest and straightforward in all that you do.
- Act in a way the promotes trust in the profession.
Act in a manner, both in your professional life and private life, to promote you, your firm or the organization you work for in a professional and positive way.
- Treat others with respect.
Treat everyone with courtesy, politeness and respect and consider cultural sensitivities and business practices.
- Take responsibility.
Be accountable for all your actions - don't blame others if things go wrong, and if you suspect something isn't right, be prepared to take action.
- Always provide a high standard of service.
Always ensure your client, or others to whom you have a professional responsibility, receive the best possible advice, support or performance of the terms of engagement you have agreed.
Rules for the Registration of Firms V6 (effect from April 2020) #
Set out:
- Which firms are required to register with the RICS for regulation.
- Circumstances in which a firm is eligible to apply for regulation, even though it is not required to do so.
- The procedure ro regustration deregustration and appeal.
- Together with the Rule of Conduct fo Firms, the obligationsof registration.
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CPD
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All members must maintain a relevant and current understanding of our professional and ethical standards during a rolling 3 yr period.
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Role, function & significance of the RICS
Aims
- Regulate and promote trust in the profession
- Maintain the highest educational and professional standards
- protect clients and consumers through a strict code of ethics
- provide impartial advice, analysis and guidance
Creation
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Founded 15th June 1868
Incorporated By Royal Charter, 26th August 1881
The royal charter requires RICS to “promote the usefulness of the profession for the public advantage in the UK and in other parts of the world.”
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Disciplinary process
Consent orders, fixed penalties and CPD sanctions
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Disciplinary, Registration and Appeal Panel Rules. These set out our processes, the decisions we can take and regulatory actions available to us. # UNDER REVISION
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employers liability, public liability, etc.
Run off cover - PII
- For consumer claims -limit of £1,000,000 in all for a period of six years from the expiry date of the policy in force at the time of cessation
- For non-consumer claims - The requirement is for firms to have adequate and appropriate run-off, but RICS would expect run-off to be a maintained for a minimum period of six years from the cessation of the practice. #
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Rule of conduct
‘…act with integrity and avoid conflicts of interest and avoid any actions or situations that are inconsistent with its professional obligations.’
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Standards
Act with integrity
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Share information with client, understanding
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take Responsibility
Ensure project in right direction, before a serious bad result
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General interpretation1.Providing a surveying service to the public
- Communication
Conduct of Business
3. Professional Behavior
A firm shall at all times act with integrity and avoid conflicts of interest and avoid any actions or situations that are inconsistent with its professional obligations.
4. Competence
A firm shall carry out its professional work with due skill, care and dillegence and with proper regards for the technical standards expected of it.
5. Service
A firm shall carry out its professional work with expedition and with proper regards for standards of service and customer care expected of it.
6. Training and CPD
A firm shall have in place the necessary procedures to ensure that all its staff are properly trained and cometent to do their work.
7. Complaints Handling
A firm shall operate a complaints handling procedure and maintain a complaints log. The CHP must include and ADR mechanism that is approved by the regulatory board.
8. Clients' Money
A firm shall preserve the security of client's money entrusted to its care in the course of its practice or business.
9. Indemnity
A firm shall ensure that all previous and current professional work is covered by adequate and appropriate indemnity cover, which meets standards approved by the regulatory board.
Firm Administration
10. Advertising
A firm shall promote its professional services only in a truthful and responsible manner.
11. Solvency
A Firm shall ensure that its finances are managed appropriately.
12. Arrangements to cover the incapacity or death of a sole practitioner
A firm which has a sole principal shall have in place appropriate arrangements in the event of the sole principal's death or incapacity or other extended business.
13. Use of Designations
A firm registered for regulation must display on its business literature, in accordance with the regulatory board's published policy on designations, a designation to denote that it is regulated by RICS
14. Information to RICS
A firm shall submit in a timel manner such information about its activities, and such form, as the regulatory board may reasonably require.
15. Co-operation
A firm shall co-operate fully with RICS staff and any person appointed by the regulaory board.
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