Ethics Flashcards

Question

Equality Act 2010

Answer 1

Equality Act legally protects people from discrimination in the workplace and in wider society. The public sector Equality Duty came into force across Great Britain on 5 April 2011. It means that public bodies have to consider all individuals when carrying out their day-to-day work – in shaping policy, in delivering services and in relation to their own employees.

Answer 2

- direct discrimination - treating someone with a protected characteristic less favourably than others - indirect discrimination - putting rules or arrangements in place that apply to everyone, but that put someone with a protected characteristic at an unfair disadvantage - harassment - unwanted behaviour linked to a protected characteristic that violates someone’s dignity or creates an offensive environment for them - victimisation - treating someone unfairly because they’ve complained about discrimination or harassment

Answer 3

It is against the law to discriminate against anyone because of the following 9 protected characteristics: - age - gender reassignment - marital status - being pregnant or on maternity leave - disability - race including colour, nationality, ethnic or national origin - religion or belief - sex - sexual orientation

Answer 4

- RICS PII requirements updated following UK PII requirements version 9 effective from April 2022 - Changed maximum uninsured excess for companies with a turnover greater than £10m to no limit - For companies with a turnover less than £10m the limit is the greater of £10,000 or 2.5% of insured sum - Maximum uninsured excess is the part of the claim the firm must pay itself

Answer 5

Interim Standards and Regulation Board

Answer 6

Regulatory Compliance- published information on how to comply with professional obligations Disciplinary Process- investigations if concerns raised and disciplinary processes to address this, from fines to expulsion. The highest level is Regulatory Tribunal Regulatory Schemes- Client Money Protection Scheme, Firm Registration

Answer 7

- Registration of Members and Firms on regulatory schemes - Regulatory Support (including regulatory schemes) - Investigation and Disciplinary Process - Readmission following disciplinary expulsion

Answer 8

Delegated responsibility for; - setting professional standards - overseeing entry to the profession - providing assurance that members and firms operate to the required standards - maintain trust in the profession

Answer 9

The RICS rules of conduct Annex A professional obligations states the requirement for adequate PII RICS release professional statements setting out the requirements for PII (latest is version 9 April 2022)

Answer 10

- ensure client money is kept safe - ensure client money accounts are used for appropriate purposes only - ensure RICS firms have appropriate controls and procedures to safeguard client money

Answer 11

- ensure that all efforts are made to trace the clients or owners of the money - hold the surplus money in a client suspense account - hold surplus money for at least three years - If, after three years, the client or owner of the money has not been found and no true claimants to the money have come forward, it must be donated to a registered charity - A receipt must be obtained for this transaction so should a true claimant come forward to collect the money it can be made available to them - The receiving charity should offer the donating firm an indemnity to enable the firm to recover a donation in the event of a claim

Answer 12

- general client money protection, covering money held by firms undertaking any surveying activities - residential agency activity in England protection, covering areas under the Client Money Protection Schemes for Property Agents

Answer 13

Any RICS registered firm in the UK must as part of its RICS registration become a member of the CMPS

Answer 14

- They cease to be a RICS registered firm - At the discretion of the CMPS Administrator, it may be determined that the firm can no longer continue as a member

Answer 15

- Client Money must be held in a Client Money Account with a bank or building society authorised by one of the regulatory bodies stated in the rules - A Member must a maintain one or more Client Money Accounts into which all Client Money of the Member is paid - Any Client Money Account must be designated as such and easily distinguished from other accounts of the Member - all clients must be advised that Client Money will be held in a Client Money Account and be notified of the details of that account - Members must confirm in writing with the bank that holds a Client Money Account that the bank acknowledges that monies in the Client Money Account must not be combined with, or transferred to, any other account maintained by the Member - keep records and accounts which show all dealings with Client Money, and that it is kept in a Client Money Account - have and comply with written procedures for handling Client Money as per RICS rules - publish their procedures for handling Client Money on their website - provide a copy of their procedures for handling Client Money to any person who may reasonably require a copy, free of charge - repay any Client Money, including where feasible any interest earned, without delay if there is no longer any requirement to retain that money or the relevant client requests it - ensure compliance with all anti-money laundering legislation, rules and regulations for all receipts of client money - hold and maintain professional indemnity insurance cover that is appropriate for the Member's size, income, type of work and the amount of Client Money held

Answer 16

- The CMPS is designed to give some protection to members of the public by making funds available for their reimbursement when all other avenues have been exhausted. - RICS Registered Firms which are members of the Scheme can themselves receive no financial benefit or protection under the Scheme. - In the event of a loss, the primary duty is on the defaulting RICS Registered Firm to make full restitution from its own resources - Clients of Members of the Scheme are to be reimbursed for any direct loss of Client Money -It does not cover any indirect or consequential loss which a Client may suffer

Answer 17

- Defined Terms - Purpose of the scheme - Scheme membership (participation, duration, levies, termination) - Handling of Client Money - Compensation for loss of Client Money (Liability for loss, compensation limits, insurance cover, claims procedure) - General Matters (duration, administrator, amendments)

Answer 18

- RICS members firms must comply with the Rules of Conduct - RICS regulated firms must ensure they and everyone employed in the firm complies with the Client Money Handling professional standard - If client money is held by a subsidiary company on behalf of the RICS-regulated firm, the firm remains responsible for holding client money securely in compliance with this professional standard

Answer 19

- comply with the RICS rules of conduct, money protection scheme rules and handling client money guidance note - client must always have access to the accounts/ money - client money must be separate and clearly identifiable - any interest on the account must be pre-agreed with the client - must ensure the account does not go overdrawn - controls must be in place to keep client money secure - staff must be competent and knowledgeable in handling and processing client money

Answer 20

- acknowledge in 7 days - investigated in 28 days

Answer 21

Your partner owns an electrician company which is participating in a tender you are due to manage (most common type of conflict of interest that could arise in TfL)

Answer 22

A fraudulent arrangement between two or more parties whereby prices or service requirements are manipulated to get round competitive tendering

Answer 23

- A non-collusion declaration is included as part of all tendering documentation and required to be completed by each bidder - If arranging site visits during the tender stage ensure each bidder attends at different times - Do not share with tenderers who the other bidders are

Answer 24

- dependent on the limitation period of the contract - usually 6 years if executed under hand - 12 years if executed as a deed - can be up to 15 years if covered by the Limitations Act 1980 in regard to latent defects e.g. claimants can prove there was damage which was unknown to them and which they could not reasonably be expected to have discovered at the time. They have 3 years from time they reasonably could have known about the defect/ negligence

Answer 25

- Countering Bribery and Corruption, Money Laundering and Terrorist Financing professional standard 2019 (reissued 2023) - sets out respponsibility of members and firms in regard to Bribery, Money Laundering & Terrorist Financing and steps/ controls to be in place to identify and mitigate this e.g. * undertake appropriate checks to be sure who your client is * undertake checks on source of funding/ wealth * should not accept cash as difficult to check where it has come from * keep up to date with training on money laundering

Answer 26

TfL have a professional services framework to call down consultants from a number of the top consultancy frameworks. Due to a shortage of resources within the company they were originally going to obtain a consultant to manage this however a conflict of interest was identified as any suitable consultant to manage this would be from one of the companies on the framework.

Answer 27

You provide advice to two different clients and whilst there may not be a party interest if they are both in the same field you may have access to pricing strategies or other confidential information that if accidentally shared with the other would benefit the other client

Answer 28

when undertaking the OSR negotiations it was important that whilst acting in the interest of the client I did not try to mislead to contractor, also during this process any stakeholders involved in the negotiation/ change control procedure were required to complete a conflict of interest declaration

Answer 29

When mentoring a colleague in the power portfolio part of my role in advising them and supporting them on the process was to ensure they were competent and had the appropriate knowledge to carry out the procurement activity

Answer 30

as part of the OSR negotiations it was important I started off by understanding the clients (business & project team) objectives of this negotiation to make sure I achieved this and provided a good quality service, with this I also ensured I communicated clearly throughout the process and included a record of all discussion/ meetings through meeting minutes, emails, formal reports

Answer 31

it is important that as part of our day-to-day role we always treat everyone with respect, a specific example is when mentoring the two colleagues in the power portfolio, both were of different ages, genders, ethnicities and with very different work experiences however I respected the strengths and differences of each colleague and worked collaboratively with both and found the best ways to support them as individuals

Answer 32

- Responsible procurement checklist which includes requirements on level of EDI information (policy/ statement/ action plan), ethical sourcing (if sourcing from high-risk countries Ethical Trading Initiative Base Code must be complied with), Modern Slavery (is a MS action plan to be submitted) - Anyone who participates in the Procurement/ Tendering process must complete a conflict-of-interest declaration - When carrying out site visits it is important to ensure bidders attend at separate times to prevent collusion - Non-collusion declaration to be included as part of the tender documentation and must be signed and returned as part of all bids

Answer 33

- Money Laundering, Terrorist Financing and Transfer of Funds Regulations 2017 cash acceptance limit is €10,000. - RICS guidance is to avoid accepting cash due to the greater difficulty in undertaking necessary checks.

Answer 34

- it is a ‘body corporate’ or a partnership, - it carries on a business, or part of a business, in the UK - it supplies goods or services - it has an annual turnover of £36 million or more

Answer 35

- RICS professional groups are a way of segmenting the various specialisms of the RICS profession. - They provide assistance with guidance notes relevant to their area of expertise

Answer 36

- Network which offers, mentoring, free CPD opportunities, networking and social events - designed to support students, apprentices, trainees and those who are newly qualified (up to 10 years)

Answer 37

10 e.g. membership & registration, designations, conduct

Answer 38

- Professional Standards- set mandatory requirements for competent and ethical practice and include professional statements & guidance notes e.g. International Cost Management Standard, Client Money, Rules of Conduct, black books such as; conflict avoidance & dispute resolution in construction - Practice Information- provide advice or practice support e.g. AI in the Built Environment

Answer 39

- highest governing body, setting our global strategy and ensuring RICS fulfils its Royal Charter obligations. - provides strategic oversight on requirements for entry into the profession, and the setting and enforcement of professional standards

Answer 40

5 planned for 2024- 2 in person, 3 remotely

Answer 41

- bribing another person - being bribed - bribing a foreign public official - failure by commercial organisation to prevent bribery

Answer 42

It means the following “persons” fall under the jurisdiction of the UK Courts, and can be convicted of the criminal offence of bribery, no matter where in the world the offence is committed: - Companies and partnerships incorporated in the United Kingdom. - Individuals who are citizens of the United Kingdom or the British Overseas territories. - An individual who is ordinarily resident in the United Kingdom. - any company or individual, of any nationality, which forms part of any of the Bribery Act offences and it takes place in the UK

Answer 43

* Looks at the impact of a project on anyone from one of the 9 protected characteristics groups * Involves identifying which groups would be impacted by the project * Consulting with appropriate stakeholders/ inclusion groups to obtain comments/ feedback on the impacts to the groups * Assessment of the impact on each group, none, positive, negative, neutral * Identification of actions to mitigate any negative impacts

Answer 44

Justin Young (July 2023)

Answer 45

The minimum PII run off cover as stated by RICS is 6 years at a value of £1m in the aggregate, however the value and duration should be amended as appropriate based on the period of limitation in the contracts and the potential claims that could arise

Answer 46

* No TfL are not an RICS regulated firm as we do not provide surveying services. However we employ the services of many RICS regulated firms and therefor must have an awareness of the RICS processes * The RICS Rules for the Registration of Firms sets out when a firm must be RICS regulated, and when I firm may be eligible for RICS regulation. This has the status of a professional standard.

Answer 47

* Whilst we are not regulated by RICS, we must still comply with the Bribery Act 2010. * As an organisation, in receipt of public money, it is vital that TfL remains above suspicion and conducts itself to the highest ethical and legal standards. * The recording and monitoring of gifts and hospitality, both offered and received, is an important part of TfL’s commitment to transparency and its anti-bribery and competition framework. * All entries on the gifts & hospitality register are reviewed by our Audit and Assurance Committee to ensure compliance with our gifts & hospitality policy.

Answer 48

- As an RICS associate member and employee of TfL I must be aware of & comply with both G&H policies. - As both policies are to ensure compliance with the Bribery Act 2010 they are both similar processes and are about not accepting anything that could be deemed by others to constitute a bribe, report any offers of bribes & suspicions of bribery of others.

Answer 49

* RICS RoC- standards of professional conduct * International Standard- High-level standard developed in collaboration with other relevant bodies * RICS professional statement- Mandatory requirements for RICS members and firms * RICS Guidance note- Provides users with recommendations or an approach for accepted good practice (if it states must mandatory, if it states should then best practice & highly recommended but may be circumstances where alternatives are more suitable) * RICS Code of Practice- developed in collaboration with other professional bodies and has the status of a professional statement or guidance note * RICS jurisdiction guide- information to support adoption and implementation of the standards/ statements locally * RICS information paper- Practice based information that provides users with the latest information and/or research

Answer 50

The consultants we use are always from RICS regulated firms, therefore if I wished to issue a formal complaint I would refer to their complaints handling procedure which they are required to publish on their website and supply to their clients

Answer 51

Whilst we are not an RICS regulated firm with a requirement under this, we are a public company and have an obligation to operate in a fair, open and transparent manner in everything we do. If we do not appropriately manage conflicts and/or potential conflicts of interest, there is an increased risk of challenge when undertaking our procurement or commercial activities. Which could lead to fines/ legal action, reputational damage and commercial decisions being set aside.

Answer 52

- complete an annual Declaration of Interest - complete a declaration of interest when participating in a new procurement activity - ensure any other staff participating in the procurement complete a DoI - Ensure i am aware of our conflict of interest process so in the event an interest is declared I understand the process of dealing with this - check DoI of suppliers included as part of invitation to tender documentation

Answer 53

1. Governing Council (governing body) 2. RICS Board (delivery of the business plan & operations) & Standards and Regulation Board (responsibility for exercising RICS’ regulatory functions)

Answer 54

- TfL collaborated with the RICS on the Conflict Avoidance Process - TfL offer RICS accredited apprenticeships and are part of a working body on improving these

Answer 55

I previously wrote an article on my experiences as a female working in a stereotypically male profession. This article was to be shared publicly on LinkedIn and therefore it was important that I ensured the contents of this article did not undermine publics confidence in the profession. e.g. by ensuring the article itself was written in a professional manner and to a high standard and having it reviewed by my companies media department prior to sharing it.

Answer 56

- proportionality of the gift (e.g. is this in proportion to work I have provided) - Value (is it a high value offer that could be deemed as a bribe) - Timing (could accepting at this time even if it is just a coffee be constituted as a bribe. e.g. during a tender period anything could constitute a bribe)

Answer 57

I produced an ethics & professionalism refresher session, mainly tailored at RICS members working in the procurement & commercial team but it was also open to anyone in the team. The sessions was to remind members of their obligations under the rules of conduct, and how they can ensure compliance with both RICS guidance & our companies guidance as whilst TfL is not an RICS registered firm, we as members must still comply with RICS. For non-RICS members it was useful for them to understand the requirements we should be checking with consultants/ firms we work with who are RICS registered. I covered gifts & hospitality and conflicts of interest advising on both the TfL process and the RICS process and how we comply with both/ how they are aligned. I also advised on complaints handling process, whilst TfL are not required to align with the complaint handling requirements of RICS we should still be aware of the policy and understand RICS requirements to check consultants have the correct process in place.

Answer 58

Can it be transferred into a client money account. Where has the money come from, the necessary money laundering checks would need to be followed and the banks are best placed to do this.

Answer 59

- As a QS its most common your contract with the client would be underhand and therefore run off cover required is 6 years - In some cases your contract with the client may be executed as a deed and therefore run off cover would need to be 12 years - It is less likely you would be advising on defects/ workmanship as a QS and therefore Limitations Act is less likely to apply

Answer 60

This is in case the firm handling the client money goes into administration. Money held in separate accounts can not be recovered by administrators.

Answer 61

Consumer Ombudsman

Answer 62

Consumer Ombudsman

Answer 63

Centre for Effective Dispute Resolution

Answer 64

Centre for Effective Dispute Resolution

Ethics Flashcards

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