The RICS was founded in 1868 with the Royal Charter being granted by the Privy Council in1881.
* The RICS is self-regulated and internally monitored meaning that it is not regulated by the Government
or external parties.
* The Bye-Laws determine how the RICS is regulated.
* The Governing council manage and agree the strategy for the RICS.
* The Regulatory board, audit committee and management board are beneath the governing council and execute the strategy set by them.
1868
To qualify and equip their members to offer the highest standards of professional service.
To promote and enforce standards
To lead solutions to the major challenges facing the built environment through professional expertise.
Because it represents professionalism, integrity and consistency across the build environment. Achieving RICS membership is important to me as it demonstrates I met internationally recognised high standards. RICS place strong emphasis one ethics and acting in the public interest which aligns closely with how i approach my professional responsibilities
What are the RICS’ 5 principles of better regulation?
How many Global Professional and Ethical standards are there?
Up until the 1st February 2022 there were 5 Global Professional & Ethical Standards.
From the 2nd February 2022 onwards the Global Professional & Ethical Standards have been
consolidated within the New Rules of Conduct 2022.
What are the New Rules of Conduct?
Rule 1. Members and firms must be honest, act with integrity and comply with their professional
obligations, including obligations to RICS.
* Rule 2. Members and firms must maintain their professional competence and ensure that services are
provided by competent individuals who have the necessary expertise.
* Rule 3. Members and firms must provide good-quality and diligent service.
* Rule 4. Members and firms must treat others with respect and encourage diversity and inclusion.
* Rule 5. Members and firms must act in the public interest, take responsibility for their actions and act to
prevent harm and maintain public confidence in the profession.
When did the rules of conduct change?
2nd FEB 2022
Who do the rules of conduct relate to?
Members and Firms
Why did the rules change?
Previous rules were since 2007
Majority of RICS members voted for change
Provided a single document for clarity
Greater focus on clearer behaviours, evolving tech and tackling climate change
What are the 6 ethical principles the rules are based on?
Honesty
Integrity
Competence
Service
Respect
Responsibility
Why does the RICS have Rules of Conduct
To provide a framework that we can all work to and so the client knows he is getting a set level of
service.
* As well as being an important tool for the Institution, the Rules of Conduct are also a useful
professional guide for individual institution members.
Give and example of each behaviour relating to the rules of conduct
Who is the current RICS President?
Nick Maclean
What is the RICS moto?
Est Modus in Rebus’ which in Latin translates to ‘There is measure in all things’
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.
Lionheart.
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.
What issues do you know about that the RICS are looking into?
The uses of AI
Reasons for Planning Delays
Awaab’s Law: Implementing new regulations for social housing (and soon private rentals) to address hazards like damp, mould, and structural issues, with extensions planned for 2026 and 2027.
Who is the RICS President Elect?
Maureen Ehrenberg
What is Nick’s main focus areas?
Skills, Homes & Infrastructure, Sustainability & Resilience, and Data & Technology.
How many Countries and how many Members does the RICS operate in and have?
RICS has 140,000 members who operate out of 146 countries