Rules of conduct and professional ethics

Rules of conduct
1. Firm rules
  1. 1. general interprutation
  2. 2. general communication
  3. 3. conduct for business
  4. 4. competence
  5. 5. service
  6. 6. training on CPD
  7. 7. CHP
  8. 8. clients money
  9. 9. PII
  10. 10. advertising
  11. 11. solvency
  12. 12. incapacity/death (sole)
  13. 13. Use of designations
  14. 14. info to RICS
  15. 15. co-operation
2. member rules
  1. 1. general interpretation
  2. 2. general communication
  3. 3. Professional Behaviour
  4. 4. competence
  5. 5. Service
  6. 6. CPD
  7. 7. Solvency
  8. 8. Info to RICS
  9. 9. Co-operation
5 principles of better regulation
1. 1. Proportionality
2. 2. Accountability
3. 3. Consistency
4. 4. targeting
5. 5. Transparency
Setting up a practice
1. Firms details
  1. firms names
    1. business names act 1985 and Company's Act 1985
      1. stat requirement to disclose name
        sole
        your name
        partnership
        names of partners
        company
        corporate name
  2. contact office
  3. offices
  4. nature of works
  5. staff
  6. insolvency
  7. data protection
  8. Consumer credit act 1974
  9. finance services and marketing act 2000
  10. data protection act 1998
  11. UK money laundering regs 2003
2. RICS Practice Management Guidance 2010
3. Data Protection
4. Money laundering
5. PII
6. CHP
7. Clients money
8. Correct use of designations
9. sole practitioner
  1. Use of locums
10. RICS Resources
  1. branding
    1. advice on using the logo
  2. find a surveyor
    1. promoting the firm
  3. RICS Training
  4. RICS Guides
11. What procedures must you follow if starting up a practice?
  1. contact RICS for guidance
  2. inform RICS and register for regulation
  3. appoint a contact officer for RICS communication
  4. prepare CHP
  5. Obtain PII
  6. Abide by RICS rules for firms
  7. use designation "regulated by RICS" on practice material
12. what insurances are required?
  1. PI
  2. Employers liability
  3. public liability
  4. buildings insurance for own office
Regulatory board
1. head = Eve Solomon
2. How is disciplinary proedure triggered?
  1. someone complains to RICS
  2. Allegation from 3rd party/client
  3. info received/est by RICS
3. 3 actions imposed after investigation stage
  1. fixed penalty
  2. consent order
  3. disciplinary panel
4. what are fixed penalties?
  1. a fine by RICS
5. what are consent orders
  1. member/firm restraining from taking certain actions for a specified period + maybe a fine/costs
6. when are consent orders applicable?
  1. for low level breaches of rules that can be corrected
  2. applied for breach of any rule
  3. fines may be £2000 per breach
7. when is a disciplinary panel applicable?
  1. more serious form of breaches
  2. panel usually held in public
8. which breaches = expulsion?
  1. Gross/persistent/wilful failure to comply with RICS rules
    1. fruad
    2. dishonesty
    3. criminal conviction (serious)
    4. gross incompetence
    5. deliberate discrimination
    6. missappropriation of clients money
9. how are disciplinary breaches published
  1. panel hearings posted on website 14 days before
  2. decisions published in RICS Business/website/ local newspapers
10. when are fixed penalties applicable?
  1. minor breaches Rule 8 (members) and 14 (firms)
    1. not providing information to RICS
  2. continued non-compliance = further notice and higher fine
  3. appeals can be made against them in 28 days
11. what penalties can D.Panel apply
  1. caution
  2. reprimand
  3. undertakings as to future conduct
  4. fines (unlimited)
  5. condition continued membership
  6. member expulsion/ removal of firms registration
Complaints Handling procedures
1. Stage 1
2. stage 2
3. independent redress mechanism
4. Approved by RICS
5. Ombudsman
  1. ombudsman - property
  2. www.ombudsman-services.org
  3. business to consumer
PII
1. define
  1. protect professionals/businesses event of claims by a client/third party suffered loss as a result of non-performance/breach/negligence in service
2. purchased from
3. providers
4. 3 minimum levels
  1. 100k = 250k
  2. 100 - 200k = 500k
  3. 200+ = 1m
  4. excess
5. who does it protect?
6. protect from what?
7. 6 years run-off cover
8. Rule 9. for firms
CPD
1. Quality not Quantity
  1. pro & work based activities
  2. personal & informal Learning
  3. voluntary and charity works
  4. courses, seminars
2. Min 1/2 hr and 20hr/yr
  1. Plan, undertake, record
3. evaluate appropriate CPD
4. on request - provide records to RICS
5. 2013 changes for members
  1. ethical element every 3 years
  2. 10hrs (out of 20) of formal learning
  3. online recording
RICS MODUS
1. Relevant articles
2. review last 6 months
3. hot topics
  1. sustainability
  2. PII
  3. Recession - financial markets
  4. BIM
Regulation
1. Register for regulation
  1. yearly report to RICS
  2. Regulated by RICS
  3. opt in if less than 50% of principles are members
  4. Why register?
    1. Advertising benefits over competitors
    2. your clients will be aware that your firm is regulated
    3. help support from reg body
    4. a principle-based sensible approach to regulation
  5. info for registration
    1. business and staffing levels
    2. nature of clients
    3. CHP in place
    4. core reg info (contact officer)
    5. head office address (if other offices)
    6. Date firm est.
    7. Surveying services provided
    8. contract officer (member)
    9. Contact details
    10. Names & titles of principles
Gifts and inducements
1. Bribery Act 2010
  1. give a bribe
  2. receive a bribe
  3. bribing an official
  4. not having systems in place to mitigate bribes
2. event/functions
3. facilitation payments
4. hospitality
Money Laundering
1. Symptoms
  1. strange transactions
  2. non-reputable firms
  3. cash payment

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