Ethics & Rules of Conduct

Ethics, Rules of Conduct, and Professionalism

Overview

They ensure that the public, clients, and other stakeholders can trust the competence, integrity, and professionalism of RICS members and regulated firms. In this blog post, we will explain the main principles and requirements of the RICS Rules of Conduct for individuals and firms, and how they relate to the conduct befitting a Chartered Surveyor. We will also discuss the registration of firms, the complaints procedure, the conflicts of interest, the gifts, the professional indemnity insurance, the client accounts, the regulation, the disciplinary procedures, the lifelong learning, the current RICS structure, the professional group, and the current RICS issues and initiatives. We will provide some real-life examples to illustrate the application of the ethics and rules of conduct in the construction industry. Finally, we will conclude with some key points and recommendations for RICS APC candidates who aspire to become Chartered Surveyors.

RICS Rules of Conduct [for individuals and firms]

The RICS Rules of Conduct are the standards of behaviour and competence that RICS members and regulated firms must comply with. They are based on the five ethical principles of RICS: professionalism, integrity, respect, trust, and accountability. The Rules of Conduct are divided into two sections: one for individuals and one for firms. The Rules of Conduct for individuals apply to all RICS members, regardless of their role, seniority, or location. The Rules of Conduct for firms apply to all firms that are regulated by RICS, either voluntarily or as a condition of membership.

·The Rules of Conduct for individuals include the following obligations:

• To act with integrity and avoid conflicts of interest.

• To provide a high standard of service and act in a way that promotes trust in the profession.

• To keep their knowledge and skills up to date and comply with the RICS CPD policy.

• To treat others with respect and take responsibility for their actions.

• To carry out their professional work with due skill, care, and diligence, and with proper regard for the technical standards expected by RICS.

• To only undertake professional work for which they have the necessary competence, and to refer work to others if they are not competent to do it.

• To co-operate with RICS and provide information as required by RICS.

• To notify RICS of any changes in their personal details, employment, or professional status

• To comply with the laws and regulations that apply to their professional work.

• To avoid any actions or situations that are inconsistent with their professional obligations or that may damage the reputation of RICS or the profession.

• The Rules of Conduct for firms include the following obligations:

• To maintain the security and integrity of client money and to comply with the RICS Client Money Handling Rules

• To ensure that all principals and staff are competent to carry out their work and to provide them with adequate training and supervision.

• To ensure that all principals and staff comply with the RICS Rules of Conduct for individuals and the RICS ethical principles.

• To have in place adequate and appropriate professional indemnity insurance cover for their work and to comply with the RICS Professional Indemnity Insurance Rules

• To have in place adequate and appropriate arrangements for dealing with complaints and disputes, and to comply with the RICS Dispute Resolution Service Rules

• To co-operate with RICS and provide information as required by RICS.

• To notify RICS of any changes in their firm details, structure, or status

• To comply with the laws and regulations that apply to their professional work.

• To avoid any actions or situations that are inconsistent with their professional obligations or that may damage the reputation of RICS or the profession [16], [17] & [18].

Conduct Befitting a Chartered Surveyor

Conduct befitting a Chartered Surveyor is the expected behaviour of a RICS member who upholds the highest standards of professionalism, integrity, and competence in their work. It is not only about complying with the RICS Rules of Conduct, but also about demonstrating the values and principles of RICS in every situation. Conduct befitting a Chartered Surveyor means:

• Acting in the best interests of clients and providing impartial and independent advice

• Acting in the public interest and contributing to the sustainable development of society and the environment

• Acting with honesty, fairness, and respect towards others and avoiding any discrimination, harassment, or bullying

• Acting with courage and integrity and challenging any unethical or unprofessional behaviour

• Acting with accountability and transparency and admitting and learning from mistakes

• Acting with excellence and innovation and striving to improve the quality and value of their work.

• Acting with collaboration and cooperation and sharing knowledge and best practices with others [16], [17] & [18].

Registration of Firms

Registration of firms is the process by which firms that provide surveying services become regulated by RICS. Registration of firms is voluntary for most firms, but mandatory for some types of firms, such as those that handle client money, those that provide valuation services, or those that operate in certain jurisdictions. Registration of firms has many benefits for both firms and clients, such as:

• It demonstrates the firm's commitment to the highest standards of professionalism, ethics, and quality.

• It enhances the firm's reputation and credibility in the market and among clients.

• It provides the firm with access to the RICS resources, guidance, and support.

• It enables the firm to use the RICS logo and the designation "Regulated by RICS".

• It protects the firm and its clients from the risks of fraud, negligence, or misconduct.

• It ensures that the firm has adequate and appropriate professional indemnity insurance cover and client money protection.

• It ensures that the firm has a robust and effective complaints and disputes resolution mechanism.

• It ensures that the firm is subject to the RICS regulation and monitoring, and that it complies with the RICS Rules of Conduct for firms [19].

Complaints Procedure

The complaints procedure is the process by which RICS deals with complaints against its members and regulated firms. The complaints procedure aims to protect the public, clients, and other stakeholders from the harm caused by the breach of the RICS Rules of Conduct or the RICS ethical principles. The complaints procedure also aims to maintain and enhance the reputation and standards of RICS and the profession. The complaints procedure involves the following steps:

• Receiving and acknowledging the complaint: RICS receives the complaint from the complainant, who can be anyone who has a legitimate interest in the conduct of a RICS member or regulated firm. RICS acknowledges the receipt of the complaint and informs the complainant of the next steps.

• Assessing and investigating the complaint: RICS assesses the complaint to determine whether it falls within the scope of the RICS regulation and whether it has sufficient evidence to support it. RICS may request further information or evidence from the complainant, the respondent (the RICS member or regulated firm who is the subject of the complaint), or any other relevant parties. RICS may also appoint an independent investigator to conduct a thorough and impartial investigation of the complaint.

• Resolving the complaint: RICS tries to resolve the complaint by using various methods, such as mediation, conciliation, or arbitration. RICS encourages the complainant and the respondent to reach a mutually satisfactory outcome, such as an apology, a correction, a compensation, or a remedial action. RICS may also issue a guidance or a warning to the respondent to prevent the recurrence of the breach.

• Referring the complaint: RICS may refer the complaint to the RICS Disciplinary Panel if the complaint is serious, complex, or contentious, or if the resolution methods fail to achieve a satisfactory outcome. The RICS Disciplinary Panel is an independent body that hears and decides on the complaints referred by RICS.

• Closing the complaint: RICS closes the complaint when the complaint is resolved, referred, withdrawn, or dismissed. RICS informs the complainant and the respondent of the outcome of the complaint and the reasons for it. RICS may also publish the outcome of the complaint on its website or in its publications, subject to the confidentiality and data protection rules [14], [15].

Conflicts of Interest

Conflicts of interest are situations where a RICS member or regulated firm has a personal or professional interest that may compromise or appear to compromise their objectivity, impartiality, or independence in their professional work. Conflicts of interest may arise from various sources, such as:

• Having a direct or indirect financial interest in the outcome of the work

• Having a personal or professional relationship with the client, the employer, or any other party involved in the work.

• Having a competing or conflicting duty or loyalty to another client, employer, or party

• Having a previous or current involvement in the work or the subject matter of the work

• Having a potential or actual advantage or benefit from the work

Conflicts of interest may affect the quality, reliability, and credibility of the work, and may damage the trust and confidence of the public, clients, and other stakeholders in the RICS member or regulated firm. Conflicts of interest may also expose the RICS member or regulated firm to the risks of complaints, disputes, or disciplinary actions. Therefore, RICS members and regulated firms must avoid or manage conflicts of interest in accordance with the RICS Rules of Conduct and the RICS guidance notes. The main steps to avoid or manage conflicts of interest are:

• Identifying and assessing the conflicts of interest: RICS members and regulated firms must identify and assess any actual or potential conflicts of interest that may arise in their professional work, and consider the nature, extent, and impact of the conflicts of interest on their objectivity, impartiality, and independence.

• Disclosing and obtaining consent for the conflicts of interest: RICS members and regulated firms must disclose any actual or potential conflicts of interest to their clients, employers, or any other relevant parties, and obtain their informed consent to proceed with the work, subject to any conditions or limitations agreed upon.

• Managing and reviewing the conflicts of interest: RICS members and regulated firms must manage the conflicts of interest by implementing appropriate measures, such as separating the teams, roles, or functions involved in the work, using independent third parties to verify or audit the work, or withdrawing from the work if the conflicts of interest cannot be resolved or mitigated.

• Recording and reporting the conflicts of interest: RICS members and regulated firms must record and report any actual or potential conflicts of interest and the measures taken to avoid or manage them, and keep the records and reports updated and accessible for review or audit [13].

Gifts

Gifts are any items, services, or benefits that a RICS member or regulated firm receives or offers in relation to their professional work. Gifts may include, but are not limited to, cash, vouchers, discounts, hospitality, entertainment, travel, accommodation, or donations. Gifts may be given or received for various reasons, such as:

• Expressing gratitude, appreciation, or goodwill

• Building or maintaining relationships or networks

• Seeking or providing information or advice

• Influencing or rewarding decisions or actions

• Soliciting or securing work or contracts

Gifts may have positive or negative effects on the professional work of RICS members and regulated firms. Gifts may enhance the communication, cooperation, and trust between the parties involved in the work, or may reflect the cultural or social norms of the context of the work. However, gifts may also create or imply obligations, expectations, or favours, or may compromise or appear to compromise the objectivity, impartiality, or independence of the RICS member or regulated firm. Gifts may also expose the RICS member or regulated firm to the risks of complaints, disputes, or disciplinary actions. Therefore, RICS members and regulated firms must handle gifts in accordance with the RICS Rules of Conduct and the RICS guidance notes. The main principles to handle gifts are:

• Acting with integrity and transparency: RICS members and regulated firms must act with honesty, fairness, and openness in relation to gifts, and avoid any gifts that may be illegal, unethical, or inappropriate.

• Acting with professionalism and accountability: RICS members and regulated firms must act in a way that promotes trust and confidence in the profession, and take responsibility for their decisions and actions in relation to gifts.

• Acting with respect and sensitivity: RICS members and regulated firms must act with respect and sensitivity towards the culture, values, and expectations of the parties involved in the work, and avoid any gifts that may be offensive, disrespectful, or discriminatory.

• Acting with prudence and proportionality: RICS members and regulated firms must act with prudence and proportionality in relation to gifts, and consider the value, frequency, timing, and purpose of the gifts, and the potential or actual impact of the gifts on the work [12].

Professional Indemnity Insurance

Professional indemnity insurance (PII) is a type of insurance that covers the legal liability of a RICS member or regulated firm for any loss or damage caused by their negligence, error, or omission in their professional work. PII provides protection for both the RICS member or regulated firm and their clients, as it enables the RICS member or regulated firm to compensate the clients for any valid claims, and to defend themselves against any unjustified claims. PII also ensures that the RICS member or regulated firm can continue to operate and provide their services without being financially crippled by the claims. PII is a mandatory requirement for all RICS members and regulated firms, as stipulated by the RICS Rules of Conduct and the RICS Professional Indemnity Insurance Rules. The main features of PII are:

• Scope and limit of cover: PII must cover the full range and value of the professional services provided by the RICS member or regulated firm, and must be adequate and appropriate for the nature, size, and complexity of the work. PII must also cover the costs and expenses of defending or settling the claims, and any interest or compensation awarded by the court or tribunal.

• Terms and conditions of cover: PII must be provided by a reputable and authorised insurer, and must be subject to the laws and regulations of the jurisdiction where the work is performed. PII must also comply with the minimum standards and requirements set by RICS, and must not contain any exclusions, limitations, or excesses that may affect the validity or effectiveness of the cover.

• Duration and renewal of cover: PII must be maintained continuously and without interruption for as long as the RICS member or regulated firm provides or has provided professional services, and must cover any claims that may arise after the completion or termination of the work. PII must also be renewed annually or at the expiry of the policy, and must be reviewed and updated regularly to reflect any changes in the work or the risk profile of the RICS member or regulated firm.

• Notification and reporting of claims: PII must be notified and reported to the insurer as soon as possible after the RICS member or regulated firm becomes aware of any circumstances that may give rise to a claim, or after they receive any notice or demand of a claim. PII must also be notified and reported to RICS as required by RICS, and must be disclosed to the clients or any other relevant parties as appropriate [20], [21], [22] & [23].

Client Accounts

Client accounts are bank accounts that a RICS member or regulated firm uses to hold or transfer money that belongs to their clients or third parties in relation to their professional work. Client accounts may include, but are not limited to, deposit accounts, escrow accounts, trust accounts, or stakeholder accounts. Client accounts are used for various purposes, such as:

• Receiving or paying deposits, fees, rents, or charges

• Holding or transferring funds for transactions, investments, or developments

• Managing or administering funds for clients or third parties

• Securing or safeguarding funds for clients or third parties

Client accounts are subject to the RICS Rules of Conduct and the RICS Client Money Handling Rules, which aim to protect the security and integrity of the client money and to prevent the misuse, misappropriation, or fraud of the client money. The main requirements for client accounts are:

• Separation and identification of client money: Client money must be kept separate from the RICS member or regulated firm's own money, and must be deposited in a designated client account that is clearly identified and labelled as such.

• Authorisation and regulation of client accounts: Client accounts must be opened and operated with a reputable and authorised bank or financial institution, and must be subject to the laws and regulations of the jurisdiction where the client account is located.

• Control and oversight of client accounts: Client accounts must be controlled and overseen by the RICS member or regulated firm, who must ensure that the client accounts are used only for the intended purposes and that the client money is accounted for and reconciled regularly.

• Records and audits of client accounts: Client accounts must be recorded and audited by the RICS member or regulated firm, who must keep accurate and up-to-date records of the client accounts and the client money, and must provide the records and the client accounts for inspection or audit by RICS or any other competent authority.

• Notification and reporting of client accounts: Client accounts must be notified and reported to RICS as required by RICS, and must be disclosed to the clients or any other relevant parties as appropriate [25], [26].

Regulation

The RICS is the leading professional body for the construction industry, and it regulates its members and firms through setting and enforcing standards of competence, conduct and ethics. The RICS also provides guidance, advice and support to its members and firms, and protects the public interest by upholding the reputation and integrity of the profession. Some of the key standards and guidance that the RICS issues are:

• The RICS Professional Statement on Ethics, which sets out the five ethical principles that all members and firms must adhere to: act with integrity, always provide a high standard of service, act in a way that promotes trust in the profession, treat others with respect, and take responsibility.

• The RICS Rules of Conduct for Members and Firms, which set out the mandatory requirements and obligations that all members and firms must comply with, such as maintaining professional indemnity insurance, keeping proper records, handling clients' money, and resolving disputes.

• The RICS Guidance Notes and Practice Statements, which provide best practice advice and recommendations on various aspects of the construction industry, such as valuation, measurement, contract administration, and health and safety [1], [2].

Disciplinary Procedures

The RICS has a disciplinary framework that applies to its members and firms who breach the rules of conduct or act in a way that is incompatible with the profession. The RICS also operates an appeals process for members and firms who wish to challenge the outcome of a disciplinary decision. Some of the examples of misconduct that the RICS may investigate are:

• Failing to act with integrity, honesty and impartiality, such as by providing false or misleading information, accepting bribes or inducements, or having a conflict of interest.

• Failing to provide a high standard of service, such as by delivering poor quality work, missing deadlines, or overcharging clients.

• Failing to act in a way that promotes trust in the profession, such as by breaching confidentiality, misusing clients' funds, or engaging in fraudulent or criminal activities.

• Failing to treat others with respect, such as by discriminating, harassing or bullying others, or using abusive or offensive language.

• Failing to take responsibility, such as by not complying with the RICS standards and guidance, not cooperating with the RICS investigations, or not fulfilling the CPD requirements [3].

Lifelong Learning – CPD

The RICS requires its members and firms to engage in lifelong learning and continuous professional development (CPD) to maintain and enhance their knowledge, skills and competence. The RICS sets minimum requirements for CPD hours and activities, and monitors and records the CPD performance of its members and firms. The RICS also offers a range of CPD opportunities and resources to help its members and firms fulfil their CPD obligations and aspirations. The main features of the RICS CPD policy are:

• Members and firms must complete at least 20 hours of CPD per year, of which at least 10 hours must be formal CPD, such as attending courses, seminars, workshops, or webinars.

• Members and firms must record their CPD activities online, using the RICS CPD portal, and submit their CPD records by 31 January each year.

• Members and firms must ensure that their CPD activities are relevant to their current or future role, and cover both technical and professional skills, such as ethics, communication, leadership, and management.

• Members and firms must reflect on their CPD activities and evaluate how they have contributed to their professional development and improved their performance.

• Members and firms must update their CPD plans regularly and identify their learning needs and goals [4].

Current RICS Structure

The RICS is governed by a Royal Charter, which sets out its objectives, powers and constitution. The RICS is led by a Governing Council, which is elected by the members and represents the interests and views of the profession. The RICS also has an Executive Team, which is responsible for the day-to-day management and operations of the organisation. The RICS is divided into six world regions, each with its own Regional Board and staff. The RICS also has various groups and committees that deal with specific aspects of the profession, such as standards, education, policy, research and diversity. The main functions and roles of the RICS structure are:

• The Governing Council is the supreme decision-making body of the RICS, and it sets the strategic direction and priorities of the organisation. It consists of 25 members, who are elected by the members for a four-year term. The Governing Council also appoints the President, the Senior Vice President, and the Junior Vice President, who are the ceremonial and ambassadorial leaders of the RICS.

• The Executive Team is the senior management team of the RICS, and it implements the strategy and policies of the Governing Council. It consists of the Chief Executive Officer, who is the head of the organisation, and the Chief Operating Officer, who is responsible for the operational performance and efficiency of the organisation. The Executive Team also includes the Managing Directors of the six world regions, and the Directors of the various functions, such as finance, marketing, human resources, and technology.

• The Regional Boards are the regional representatives of the RICS, and they oversee the delivery of the RICS services and activities in their respective regions. They consist of members and staff, who are appointed by the Governing Council for a three-year term. The Regional Boards also liaise with the local members and firms, and the regional stakeholders and partners, such as governments, regulators, clients, academia and other professional bodies.

• The Groups and Committees are the technical and professional experts of the RICS, and they develop and maintain the standards and guidance for the various aspects of the profession. They consist of members and staff, who are appointed by the Governing Council for a three-year term. The Groups and Committees also provide advice and support to the members and firms, and conduct research and policy work on the current issues and initiatives that affect the industry and the society [5].

Professional Groups

The RICS has 17 professional groups that cover the different specialisms and sectors within the construction industry, such as building surveying, project management, quantity surveying and valuation. Each professional group has its own board and staff, and provides tailored services and support to its members and firms, such as publications, events, training and accreditation. Each professional group also develops and maintains the technical standards and guidance for its area of practice. The main benefits and responsibilities of the professional groups are:

• The professional groups enable the members and firms to access the latest information and insights on their specific field of expertise, and to network and exchange ideas with their peers and colleagues.

• The professional groups help the members and firms to enhance their skills and competence, and to achieve and maintain the relevant qualifications and accreditations, such as the RICS Chartered status, the RICS Associate status, or the RICS Certified status.

• The professional groups represent the interests and views of their members and firms, and advocate for their recognition and value in the industry and the society.

• The professional groups contribute to the development and improvement of the RICS standards and guidance, and ensure that they reflect the current best practice and market conditions.

• The professional groups support the RICS vision and mission, and uphold the RICS ethics and rules of conduct [6].

Current RICS Issues and Initiatives

The RICS is involved in a number of current issues and initiatives that affect the construction industry and the wider society, such as sustainability, digital transformation, diversity and inclusion, and social impact. The RICS aims to influence and shape the future of the industry and the profession, and to provide leadership and solutions to the challenges and opportunities that arise. The RICS also engages with its stakeholders and partners, such as governments, regulators, clients, academia and other professional bodies, to promote collaboration and innovation. Some of the examples of the RICS issues and initiatives are:

• · The RICS is committed to advancing the sustainability agenda, and to supporting the members and firms to deliver sustainable outcomes for the environment, the economy and the society. The RICS has developed and endorsed the UN Sustainable Development Goals, the Paris Agreement on Climate Change, and the RICS Professional Statement on Sustainability [8].

• · The RICS is leading the digital transformation of the construction industry, and to enabling the members and firms to adopt and utilise the emerging technologies and innovations, such as artificial intelligence, big data, blockchain, and drones. The RICS has launched and supported the RICS Digital Built Environment Forum, the RICS Tech Partner Programme, and the RICS Insight Paper on Digital Transformation [9].

• · The RICS is championing the diversity and inclusion in the construction industry, and to ensuring that the members and firms reflect and respect the diversity of the people and the communities they serve. The RICS has established and supported the RICS Inclusive Employer Quality Mark, the RICS Diversity and Inclusion Hub, and the RICS Insight Paper on Diversity and Inclusion [10].

• The RICS is enhancing the social impact of the construction industry, and to demonstrating the value and contribution of the members and firms to the well-being and prosperity of the society. The RICS has created and supported the RICS Social Impact Awards, the RICS World Built Environment Forum, and the RICS Insight Paper on Social Impact [11].

Final thoughts

In conclusion, this document provides a comprehensive guide to the Ethics and Rules of Conduct in the Construction Industry for RICS APC Candidates. It outlines the importance of ethics and rules of conduct for Chartered Surveyors and the obligations of both individuals and firms under the RICS Rules of Conduct. The document also discusses the registration of firms, the complaints procedure, conflicts of interest, gifts, professional indemnity insurance, client accounts, regulation, disciplinary procedures, lifelong learning, the current RICS structure, professional groups, and current RICS issues and initiatives. It is essential for RICS APC candidates to understand and adhere to these principles and requirements to uphold the highest standards of professionalism, integrity, and competence in their work.

Resources

1. RICS (2020). Rules of Conduct for Members. https://www.rics.org/globalassets/rics-website/media/upholding/professional-standards/standards-of-conduct/rules-of-conduct-for-members/rules_of_conduct_for_members_2020.pdf

2. RICS (2020). Rules of Conduct for Firms. https://www.rics.org/globalassets/rics-website/media/upholding-professional-standards/standards-of-conduct/rules-of-conduct-for-firms/rules_of_conduct_for_firms_2020.pdf

3. RICS (2020). Disciplinary Process. https://www.rics.org/uk/upholding-professional-standards/complaints/disciplinary-process/

4. RICS (2020). CPD Requirements. https://www.rics.org/uk/surveying-profession/career-management/cpd/requirements/

5. RICS (2020). About RICS. https://www.rics.org/uk/about-rics/

6. RICS (2020). Professional Groups. https://www.rics.org/uk/about-rics/professional-groups/

7. RICS (2020). Ethics Professional Statement. https://www.rics.org/globalassets/rics-website/media/upholding-professional-standards/standards-of-conduct/ethics-professional-statement.pdf

8. RICS (2020). Sustainability Professional Statement. https://www.rics.org/globalassets/rics-website/media/upholding-professional-standards/sector-standards/real-estate/sustainability-professional-statement.pdf

9. RICS (2020). Digital Transformation Insight Paper. https://www.rics.org/globalassets/rics-website/media/news/rics-digital-transformation-insight-paper.pdf

10. RICS (2020). Diversity and Inclusion Insight Paper. https://www.rics.org/globalassets/rics-website/media/news/diversity-and-inclusion-insight-paper.pdf

11. RICS (2020). Social Impact Insight Paper. https://www.rics.org/globalassets/rics-website/media/news/social-impact-insight-paper.pdf

12. RICS Regulation advice on Gifts and Hospitality and the Bribery Act 2010 · UK Government legislation, Bribery Act 2010. https://www.rics.org/content/dam/ricsglobal/documents/standards/February_2019_Countering_Bribery_And_Corruption_Money_Laundering_And_Terrorist_Financing_1st_Edition.pdf

13. RICS Guidance notes on Conflict of Interest (Jan 2022): https://www.rics.org/content/dam/ricsglobal/documents/standards/january_2022_conflicts_of_interest_global_1st_edition.pdf

14. RICS, Complaint Handling and Alternative Dispute Resolution: https://www.rics.org/regulation/regulatory-compliance/requirements-support/alternative-dispute-resolution

15. RICS, Complaints Handling, 1st Edition (January, 2022): https://www.rics.org/content/dam/ricsglobal/documents/standards/July_2016_Complaints_Handling_1st_Edition.pdf

16. RICS, Rules of Conduct : https://www.rics.org/profession-standards/rics-standards-and-guidance/conduct-competence/rules-of-conduct

17. RICS, Rules of Conduct (September 2021): https://www.rics.org/content/dam/ricsglobal/documents/standards/2021_roc_en.pdf

18. RICS, Basis of conclusion (June 2021): https://www.rics.org/content/dam/ricsglobal/documents/standards/roc_basis_for_conclusions.pdf

19. RICS, Rules for registration of Firms (January 2022): https://www.rics.org/content/dam/ricsglobal/documents/standards/Rules_For_The_Registration_Of_Firms_Version_7_With_Effect_From_2_February_2022.pdf

20. RICS, Professional Indemnity Insurance: https://www.rics.org/regulation/regulatory-compliance/professional-indemnity

21. RICS review of Professional Indemnity Insurance requirements in the UK (July 2021): https://www.rics.org/news-insights/rics-review-of-professional-indemnity-insurance-requirements-in-the-uk

22. RICS, Insurers and brokers: https://www.rics.org/regulation/regulatory-compliance/professional-indemnity/insurers-brokers

23. RICS, PII in the UK: https://www.rics.org/regulation/regulatory-compliance/professional-indemnity/pii-in-the-uk

24. RICS, Client money: https://www.rics.org/regulation/regulatory-schemes/client-money

25. RICS, Client money Handling 1st Edition (October 2022):  https://www.rics.org/content/dam/ricsglobal/documents/standards/Client%20money%20handling_Oct22.pdf

26. RICS, Client Money Handling Professional Statement (October 2019): https://www.rics.org/content/dam/ricsglobal/documents/standards/October_2019_RICS_Client_Money_Handling_Professional_Statement.pdf