Flashcards in Level 3 - Conduct rules, Ethics and Professional Practice Deck (103)
What are the different tyoes of OJEU?
N1. How does the RICS discipline members?
• When an allegation is received, the RICS Head of Regulation will:
o Make further enquiries.
o Inform the person the allegation is made against in writing, who can write a response within 28 days.
o Decide whether there are grounds for the complaint.
o If there is, they will either:
Issue a consent order.
Issue a fixed penalty.
N2. What is a consent order?
• An order outlining what needs to be changed. It will usually outline what actions need to be taken, and by what date they need to be achieved.
• Pay a fine.
• Pay RICS Costs.
N3. Does the RICS publish any guidance on the Disciplinary Measures?
• Yes, there is a large section on the RICS website.
N4. What RICS initiatives do you know of?
• PRME – Whereby the RICS is part of the UN backed Principles for Responsible Management Eduction.
• New Arbitration Service Launched.
N5. Can you tell me more about the New Arbitration Service?
• Brought in due to a decline in the use of Arbitration due its slowness.
• Arbitrators are supervised to ensure they use the powers given to them under the Arbitration Act 1996 to robustly manage costs.
• Will be faster and cheaper than courts.
• Will be better than adjudication, as it will be more detailed when looking at an issue, resulting in judgements that are commercially sensible.
N6. What issues do you know about that the RICS are looking into?
• The rising prices of housing in relation to the lack of supply and over demand. Further to this, house building is driving the current construction industry boom.
N7. Who is the president of the RICS?
John Hughes FRICS
N8. Who is the president elect?
• John Huges FRICS
N9. What current themes does John Hughes promote?
In his role as President, John’s major themes are cities, including planning and management; infrastructure, including sustainable investment; and technology, particularly its relationship to cities. John is also proud to hold the position of President during RICS’ 150th anniversary year.
N10. What is the Royal Charter?
• Awarded in 1881 by Queen Victoria, to maintain and promote the usefulness of the profession for the public advantage.
N11. How many Countries and how many Members does the RICS operate in and have?
• RICS operates in 146 countries.
• RICS has 118,000 members.
N12. Where is the RICS Head Quarters?
• Parliament Square, London.
N13. What would you say the RICS is?
• One of the most highly respected, high profile international institutions that offers advise on property, construction, Land, project management, dispute resolution and environmental issues to the client and the public and private sectors.
N14. What do you think about the RICS?
• I think the RICS plays a key role in maintaining and promoting professional standards.
• I think it also provides an invaluable service to both Clients and the Public.
N15. What is the Role of the RICS?
• To Regulate and promote the profession.
• To Maintain the highest standards.
• Protect Clients and consumers through the strict code of ethics.
• Provide impartial advice and guidance.
N16. How many professional groups are there?
N17. Can you name some of the professional groups?
• Quantity Surveying and Construction.
• Project Management.
• Building Surveying.
• Planning and Development
• Commercial Property
• Dispute Resolution.
N18. What are the duties of these professional groups?
• To provide best practice guidance.
• To set standards for professional competence.
• To provide training, CPD and network opportunities.
• Promote and Represent.
• To undertake research to improve the profession.
N19. What are the three market sectors covered by the RICS?
N20. What is the Governing Structure for the RICS?
• There is a 70 strong governing council chaired by the president.
• They meet three times a year.
• New president every year.
N21. can you describe the RICS governing structure to me?
1. At the top is the Governing Council.
2. Below this is the Regulatory Board, the Audit Committee and the Management Board.
3. Below the Management board there are 7 sub-boards, being:
a. World Board.
b. Knowledge Board.
c. Members Board.
d. Finance Board.
e. Renumerations Board.
f. Business Development Board.
g. Communications Board.
N22. What is the RICS Matrics?
• A division of the RICS dedicated to student surveyor training.
• Produces a network of Charity and Networking events.
• Promotes seminars and lectures.
N23. What is the Carsberg Report?
• A report undertaken in 2005 as a result of members general dissatisfaction with the RICS’ internal Regulatory procedures.
N24. What did the Carsberg Report introduce?
• The conduct board, who operate the disciplinary measures.
• The requirement for firms to be regulated as well as Members.
• The Rules of Conduct, which have subsequently been revised into their most recent format in 2013.
• A profession that is better regulated.
N25. What Help Sheets does the RICS publish?
• Helpsheets on:
o Complaints Handling Procedure.
o Handling Clients Money.
o PII Requirements.
N26. How many levels of RICS membership are there?
N27. What are the four levels?
N28. How do you become a fellow?
• 5 years post award MRICS.
• Managerial positions.
• Significant contribution to the profession.