Chartered Surveyors must not be influenced by any conflicts of interest as set out in the RICS Professional Standard Conflicts of Interest (1st Edition). There may be conflicts between parties, an individual or with regards to confidential information.
This Professional Standard states:
RICS Members or RICS Regulated Firms must not advise or represent a client where doing so would involve, or significantly risk, a conflict of interest other than where all of those who are or may be affected have provided their prior informed consent. Informed consent may be sought only where the RICS member or regulated firm is satisfied that proceeding despite a conflict of interest is in the interests of all of those who are or may be affected; not prohibited by law, and that the conflict will not prevent the member or regulated firm from providing competent and diligent advice to those that may be affected.
Every RICS member must:
Identify and manage conflicts of interest in accordance with the professional standard and;
Keep records of the decisions made in relation to whether to accept (and where relevant, to continue) individual professional assignments, the obtaining of informed consent, and any measures taken to avoid conflicts of interest arising.
This Professional Standard states:
RICS members and regulated firms must maintain confidentiality of confidential information unless disclosure is required or permitted by law, or the RICS member or regulated firm concerned can demonstrate that the relevant party consented to the disclosure before it was made.
Every RICS member must provide to every client all the information that is material to that client’s professional assignment of which that RlCS member has knowledge.
Every RICS regulated firm must have in place effective systems and controls appropriate to the size and complexity of their business to enable them to ensure that the firm and its employees are able to manage their compliance with this professional standard.
RICS members working independently or within non-regulated firms and regulated firms must then consider their obligations.