Definition

The RICS Rules of Conduct (effective 2 February 2022) govern the behaviour of all RICS members, students, trainees and regulated firms. They replaced the previously separate codes for members and firms, consolidating them into a single document structured around five rules, each accompanied by obligations specifying the conduct RICS expects. Non-compliance can lead to regulatory action, disciplinary proceedings and, in serious cases, expulsion.

Why this matters for Ethics, Rules of Conduct and Professionalism

  • The Rules of Conduct are the foundation of the Ethics competency: every APC candidate must be able to name, explain and apply all five rules.
  • Assessors present scenario-based questions expecting candidates to identify which rule is engaged and what the appropriate response is.
  • The 2022 update shifted from prescriptive rules to principles-based regulation, placing greater responsibility on individual judgement.
  • Both the individual member and the firm can be in breach simultaneously; candidates must understand obligations at both levels.

Key principles

The five rules

The five rules are: Rule 1 — Honesty and Integrity; Rule 2 — Competence; Rule 3 — Service; Rule 4 — Respect; Rule 5 — Responsibility (act in the public interest, take responsibility for actions, and maintain public confidence in the profession). Each rule carries obligations that give practical content to the principle.

What changed in 2022

Prior to 2 February 2022, RICS operated two separate codes. The 2022 Rules merged these, introduced the Speak Up obligation under Rule 5, strengthened diversity and inclusion obligations under Rule 4, and aligned global and UK obligations. The move to a principles-based approach means members are expected to apply professional judgement rather than follow prescriptive checklists.

Obligations: members versus firms

Some obligations apply only to individual members, others only to regulated firms, and some to both. Firms must have governance and supervision arrangements ensuring compliance (Rule 2); individual members bear personal responsibility for their own competence. Joining an RICS-regulated firm does not discharge the member's personal regulatory obligations.

The Speak Up obligation

Rule 5 contains the Speak Up obligation, requiring members to report to RICS any known or suspected serious breach by another member or firm. This is not discretionary; RICS provides a confidential reporting route and protects those who report in good faith.

Relevant RICS guidance and legislation

Ethics and Rules of Conduct angle

The five Rules of Conduct are themselves the ethical framework. Assessors want candidates who can speak to each rule with confidence: not merely reciting the wording, but explaining what it requires in practice and giving examples of conduct that would satisfy or breach it. The shift to principles-based regulation in 2022 increases the burden on professional judgement; assessors want to see internalised principles, not a memorised list.

APC-style Q&As

Q (Level 1)When did the current RICS Rules of Conduct come into effect, and what did they replace?

The current RICS Rules of Conduct came into effect on 2 February 2022. They replaced the previously separate Rules of Conduct for Members and Rules of Conduct for Firms, consolidating them into a single principles-based framework of five rules applicable to all members, students, trainees, and regulated firms.

Q (Level 1)Name the five Rules of Conduct in order.

The five rules are: Rule 1 — Honesty and Integrity; Rule 2 — Competence; Rule 3 — Service; Rule 4 — Respect; Rule 5 — Responsibility. Each rule is accompanied by specific obligations that give it practical effect for both individual members and regulated firms.

Q (Level 2)What is the Speak Up obligation under Rule 5, and when is a member required to use it?

The Speak Up obligation under Rule 5 requires a member who becomes aware of, or reasonably suspects, a serious breach of the Rules of Conduct by another member or firm to report that concern to RICS. It applies where the concern is credible and the conduct is serious, not to every minor shortfall in professional standards. RICS provides a confidential reporting channel, and the Rules protect members who report in good faith. Failure to report when the obligation is engaged can itself constitute a breach of Rule 5.

Q (Level 2)How does the 2022 Rules of Conduct differ from the previous regime in terms of regulatory philosophy?

The 2022 Rules shifted RICS from a prescriptive to a principles-based model: five high-level principles requiring members to apply professional judgement to the facts they face. This approach places greater individual responsibility on members, acknowledges the diversity of global contexts, and is more adaptable to emerging issues. Assessors test reasoning and values, not just knowledge of rules.

Q (Level 3)You discover that a colleague at your firm has been certifying professional indemnity insurance declarations as compliant when they are not. What actions do you take, and under which rules?

(example) I would ensure I had properly understood the situation then raise it with the compliance lead under the firm's own procedures. If the response was inadequate or the conduct ongoing, I would have a duty under Rule 5 to report to RICS through its confidential channel. The conduct also engages Rule 1 for the colleague making false certifications. I would document each step carefully, take advice if needed, and ensure no action of mine could be characterised as assisting or concealing the breach.