Ethics - Level 2

Question 1

When have you demonstrated the Rule of Conduct 1?

Answer 1

• Conflict of interest checks done prior to any instruction
• Been honest to clients about acquisition timelines
• Whilst negotiating and preparing the Heads of Terms for an office disposal, I ensured that the documentation prepared to the other party was always accurate and raised queries if anything was incorrect.

Question 2

When have you demonstrated Rule of Conduct 2?

Answer 2

• Only undertaking work I am competent to do
• Regularly carrying out CPD to develop my knowledge

Question 3

When have you demonstrated Rule of Conduct 3?

Answer 3

• Maintain regular communication, responding to all queries professionally and promptly
• Deliver on all the Terms of Engagement

Question 4

When have you demonstrated Rule of Conduct 4?

Answer 4

• Co-chair role at R4C advising the UK business on initiatives for D&I for underrepresented colleagues in the company
• Being a voice for underrepresented colleagues in the firm

Question 5

When have you demonstrated the Rule of Conduct 5?

Answer 5

• Carrying out due diligence, analysis on comparables and verifying all information with agents
• Being accountable for all my actions and acknowledging mistakes and correcting them, not blaming others.

Question 6

How do you ensure that you comply with bribery legislation?

Answer 6

• I consider the Bribery Act 2010 and the RICS Professional Statement on Countering Bribery and Corruption, Money Laundering and Terrorist Financing before doing business with any individuals or firms

Before accepting any gifts I consider the proportionality, timing and whether it would impact my professional judgement

• I always comply with JLL’s gift/bribery guidance
• If in doubt I would contact JLL’s compliance team or the RICS hotline for further advice

Question 7

How do you ensure you comply with money laundering regulations?

Answer 7

Request a D & B report before doing business with any individuals/companies to check the validity of the information provided and assess the financial performance or the company

Maintain my awareness of money laundering red flags;
- strange currencies
- deliberate loss making
- unwillingness to provide identification documentation
- time pressures for payments

Question 8

How do you ensure you comply with your firm’s bribery and gifts policy?

Question 9

Tell me about an instance of when you have been offered a gift or hospitality by a client.

Question 10

Tell me about what you would do if you felt that an instruction was outside your scope of experience or knowledge

Question 11

How would you keep client’s money securely and safely held?

Answer 11

• Hold client money in an account that the firm has exclusive control over
• Ensure that a client money account does not contain any sums other than the whole or any part of client money paid into it
• Not hold office money in a client money account
• Ensure that all client money accounts include the word ‘client’ (written in full) and the name of the firm in the title of the account
• Ensure that the money is always immediately available

Question 12

Tell me about how you would handle a client complaint.

Answer 12

• Acknowledge the complaint within 2-3 days (RICS recommend 7 days)
• Action the complaint within 14 days (RICS recommend 28 days)
• Pass the complaint onto the complaints handling officer
• If necessary pass onto legal team

Question 13

Tell me about a conflict of interest check you have carried out.

Answer 13

• Considered the RICS Global Professional Statement on Conflicts of Interest (2017)
• Before accepting an instruction for a valuation, issued a conflict of interest check request to our internal compliance team
• No conflict of interest flagged and continued with the appointment

Question 14

If you identified a potential or actual conflict of interest, how could you handle this?

Answer 14

Dependent on the nature of the confllict
- Owned Conflict – reject the instruction
- Party Conflict – ensure that I am not part of the work or project if possible so the company could still carry out the work, ensure information barriers are in place
- Confidential Information Conflict – ensure information barriers are in place

In all instances I would have to inform the client and ensure that they have provided informed consent to continue with an instruction knowing the conflict of interest exists.

Question 15

What are terms of engagement?

Answer 15

Written confirmation of the conditions that have been agreed with the client prior to undertaking the work.

Question 16

What is contained in terms of engagement?

Answer 16

Identification of the client, proposed fee basis, reference to my firm’s complaint’s handling procedure

Question 17

What is a conflict of interest?

Answer 17

Where a person in a position of trust has competing personal or professional conflicts which make it difficult for them to carry out their role impartially.

Question 18

How do you identify a conflict of interest?

Answer 18

My firm uses an internal system named salesforce to run conflict checks. However, without this I would take the following steps: have a register where colleagues can declare personal conflicts, notify colleagues of my involvement in potential instructions, search through internal databases and record all conflicts that arise.

Question 19

What would you do if there was a conflict of interest?

Answer 19

I would notify the client immediately and record the conflict. I would inform the client of the potential or actual conflict and the risks. If the client wishes to proceed with the instruction and I am able to manage the conflict, I will request written informed consent. To manage the conflict, I would consider the use of physical / information barriers such as taking calls in meeting rooms, working on another floor, ensuring that all files are password protected, etc. I will ensure that the conflict is stated in the terms of engagement.