We often refer to being bound by the RICS Rules of Conduct but what do they actually cover?
Here we list the latest guide, effective form 25th April 2017, from RICS;
Conduct of Business
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
A Firm shall carry out its professional work with due skill, care and diligence and with proper regard for the technical standards expected of it.
Firm shall carry out its professional work with expedition and with proper regard for standards of service and customer care expected of it.
Training and Continuing Professional Development (CPD)
A Firm shall have in place the necessary procedures to ensure that all its staff are properly trained and competent to do their work.
A Firm shall operate a complaints handling procedure and maintain a complaints log. The complaints handling procedure must include an
Alternative Dispute Resolution (ADR) mechanism that is approved by the Regulatory Board.
A Firm shall preserve the security of clients’ money entrusted to its care in the course of its practice or business.
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.
A Firm shall promote its professional services only in a truthful and responsible manner.
Firm shall ensure that its finances are managed appropriately.
Arrangements to cover the incapacity or
death of a sole practitioner
A Firm which has a sole principal (i.e. a sole practitioner or a sole director in a corporate practice) shall have in place appropriate arrangements in the event of that sole principal’s death or incapacity or other extended absences.
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.
Information to RICS
A Firm shall submit in a timely manner such information about its activities, and in such form, as the Regulatory Board may reasonably require.
A Firm shall co-operate fully with RICS staff and any person appointed by the Regulatory Board