The RICS publishes case studies of past disciplinary cases to provide valuable learning opportunities for members and shed light on the consequences of ethical breaches. The RICS withholds personal details on these cases for confidentiality reasons.
Examples of Case Studies:
Case: A RICS member was found to have acted for both the buyer and seller in a property transaction without fully disclosing the conflict of interest. They also misrepresented the value of the property to the buyer's mortgage lender.
Consequences: The member was expelled from RICS, fined £10,000, and ordered to pay costs of £17,500.
Case: A RICS member conducted a valuation of a property using outdated and inaccurate information, leading to a significant overvaluation. The client suffered financial losses as a result.
Consequences: The member was suspended from RICS for 12 months, fined £5,000, and ordered to complete additional training.
Case: A RICS member was found to have colluded with a client to inflate the value of a property for mortgage purposes. They falsified documents and provided misleading information to the lender.
Consequences: The member was struck off from RICS, sentenced to 18 months in prison, and ordered to repay the fraudulent gains.