Rics Regulatory & Governance Structure

Section 1

Purpose

Understanding the regulatory and governance structure of RICS is a fundamental requirement for any candidate pursuing the APC. Ethics, Rules of Conduct and professionalism is the only competency assessed to Level 3 for all pathways, reflecting the critical importance RICS places on professional regulation and public trust.

This guidance note sets out the key regulatory bodies, governance mechanisms and conduct requirements that candidates must understand. It explains how RICS regulates its members and firms, the standards it sets, and the consequences of non-compliance. This knowledge is essential not only for the APC interview but for ongoing professional practice.

The content draws primarily from the RICS Rules of Conduct (effective February 2022), the APC Candidate Guide (June 2025), and the Quantity Surveying and Construction Pathway Guide (December 2025).

Section 2

Key Principles

• RICS is the global professional body for chartered surveyors, operating under a Royal Charter granted in 1881. It sets and enforces standards across the built environment professions worldwide.

• The RICS Governing Council sets strategic direction; the Standards and Regulation Board (SRB) oversees regulatory policy independently of the profession's commercial interests.

• The RICS Rules of Conduct (effective February 2022) apply to all members and RICS-regulated firms. They set out five overarching principles: 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.

• RICS Professional Standards are categorised as: Professional Statements (mandatory requirements), Codes of Practice (mandatory or recommended), Guidance Notes (recommended best practice), and Information Papers (general guidance).

• The RICS Regulatory Tribunal adjudicates disciplinary cases. Sanctions range from cautions and undertakings to expulsion from membership.

• All RICS-regulated firms must have a designated Responsible Principal and maintain professional indemnity insurance (PII) at adequate levels.

• RICS operates a complaints handling procedure — members must have their own internal complaints handling procedure (CHP) in place.

Section 3

Practical Application

Step 1

Study the RICS governance structure — Understand the roles of the Governing Council, Standards and Regulation Board, regional boards and professional groups relevant to quantity surveying.

Step 2

Read the Rules of Conduct in full — Download and study the RICS Rules of Conduct (effective 2 February 2022). This is a single, combined document that replaced the previous separate Rules of Conduct for Members and Rules of Conduct for Firms (both Version 7, 2020) and incorporated the former Global Professional and Ethical Principles. Understand how each of the five principles applies to your daily work.

Step 3

Familiarise yourself with RICS standards hierarchy — Know the difference between Professional Statements (mandatory), Guidance Notes (recommended best practice) and Information Papers. Identify the key publications relevant to your pathway.

Step 4

Understand the disciplinary process — Review the RICS Regulatory Tribunal procedures. Know the types of sanctions and the circumstances that trigger investigation.

Step 5

Review your firm's compliance — Check that your firm is RICS-regulated (if applicable), has a Responsible Principal, maintains appropriate PII, and operates a complaints handling procedure.

Step 6

Prepare Level 3 examples — For the APC interview, you must provide reasoned advice on ethical dilemmas. Prepare specific examples of how you have identified and managed conflicts of interest, maintained confidentiality, or dealt with gifts and hospitality.

Section 4

Common Mistakes to Avoid

• Treating the Ethics competency as 'common sense' — this is the only competency assessed to Level 3 for all candidates; assessors expect detailed knowledge of specific RICS rules and real examples of ethical decision-making.

• Confusing RICS rules hierarchy — Professional Statements are mandatory; Guidance Notes are best practice. Stating that guidance notes are optional in an interview context shows a misunderstanding of their regulatory weight.

• Not knowing your firm's regulatory status — candidates should know whether their firm is RICS-regulated, who the Responsible Principal is, and what PII cover is in place.

• Failing to prepare examples of handling ethical dilemmas — generic answers such as 'I would act ethically' are insufficient at Level 3. You need specific, real-world examples with outcomes.

• Overlooking the Bribery Act 2010 and Equality Act 2010 — these are directly relevant to professional conduct and frequently tested in APC interviews.

Section 5

APC Competency & Quick Reference

• Ethics, Rules of Conduct and professionalism — Level 3 (mandatory, all pathways)

• Client care — Level 2 (mandatory) — includes complaints handling and client confidentiality

• Business planning — Level 1 (mandatory) — includes understanding of firm regulation

What are the five principles of the RICS Rules of Conduct?

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. These principles underpin all RICS regulation and apply to both members and firms.

What is the role of the Standards and Regulation Board?

The SRB operates independently of the RICS Governing Council to oversee regulatory policy, set professional standards and ensure the public interest is protected. This separation ensures regulatory decisions are not influenced by commercial interests of the profession.

What sanctions can the RICS Regulatory Tribunal impose?

Sanctions range from cautions and written undertakings, through conditions on practice, fines and suspensions, to the most severe sanction of expulsion from RICS membership. The tribunal may also order costs and publish its decisions.

Section 6

APC Preparation Checklist

☐

Read the RICS Rules of Conduct (effective 2 February 2022, single combined document) in full

☐

Understand the five overarching principles and prepare examples of each in practice

☐

Identify the RICS governance bodies and their roles (Governing Council, SRB, regulatory tribunal)

☐

Review the RICS professional standards hierarchy (Professional Statements, Guidance Notes, etc.)

☐

Check your firm's RICS-regulated status, Responsible Principal and PII arrangements

☐

Confirm your firm has a written complaints handling procedure (CHP)

☐

Prepare at least two Level 3 examples of ethical decision-making from your own experience

☐

Review the Bribery Act 2010 and Equality Act 2010 and their relevance to professional practice

Section 7

CPD Learning Outcomes

• Describe the RICS governance and regulatory structure, including the roles of the Governing Council, Standards and Regulation Board and Regulatory Tribunal.

• Apply the five principles of the RICS Rules of Conduct to practical scenarios encountered in quantity surveying practice.

• Evaluate the regulatory framework that governs RICS-regulated firms, including PII requirements, complaints handling procedures and disciplinary processes.

Section 8