Conflict of Interest Policy

1.

Introduction
Those appointed to RICS Governance Bodies have a duty to act in the best interests of RICS
but they will sometimes have ties with other organisations, e.g. with government departments,
consultants, suppliers, contractors. It is possible, that these relationships may give rise to a
conflict of interest.
RICS has prepared the following guidelines and rules to assist in assessing whether or not
proposed activities have potential for any conflict of interest, and to provide a procedure for
disclosure, discussion and/or management of any perceived or potential conflict.

2.

What is a conflict of interest and when may it arise?

A conflict of interest will arise when someone appointed to an RICS Governance Body has any
professional, financial or business interest in another company or business which may compete
with or influence dealings with RICS.
Examples of circumstances which may give rise to a conflict of interest are:

Any interest in the supply of goods or services to or for the purposes of RICS. E.g.
someone serving on the Membership Board may be employed by an academic
institution which has an interest in training.
Any contract or proposed contract concerning RICS.
Where someone has a duty or holds a position which is material to, or may conflict with,
the interests of RICS. E.g. an involvement with another professional body which is
acting against the interests of RICS.
Direct financial interest when you or your family receive a direct financial benefit*
(money or benefit in kind) from a supplier or organisation connected with RICS. E.g.
when a contract is awarded by RICS to a company with which you have an
involvement.
Indirect financial interest when a person connected to you stands to benefit financially
from RICS. A person is connected if they are member of the appointed persons family,
i.e. spouse or any person with whom the appointed lives as a partner in an enduring
family relationship, child, step child or parent. A company can also be connected if the
appointee has a 20% or more equity share capital of the company or can exercise more
than 20% of the voting power at a general meeting of the company.
Conflict of loyalties this is where someone might have competing loyalties between
RICS, and another person or entity. E.g. being on an appointment panel and knowing
one of the interviewees.

* Financial benefit should be read in its widest sense. It will include any material benefit
you or a person close to you may derive. This could be monetary or a discount on a
benefit, such as a discount on finance charges.
RICS requires you to disclose as a potential conflict of interest, any connection which could, or
could be seen to, have the effect of compromising the judgment of anyone appointed to an
RICS Governance Body.
For the purpose of this guidance, a non-executive director is a person appointed to an RICS
Governance Body who is not an employee of the organisation.

3.

What to do if you think you may have a potential conflict of interest?

It is your responsibility to disclose any actual or potential conflict of interest you may have as
someone appointed to an RICS Governance Body.
If, at any time during your involvement with RICS, you feel that you may be involved in a
potential conflict of interest you must disclose it, giving full details of all relevant circumstances.
The Corporate Secretary on behalf of the Chief Executive will consider whether or not there is
a conflict and whether disclosure is sufficient or further guidance/action is required.
If you are present at an RICS meeting where an item of business relating to your interest is
discussed, then you should orally declare that interest. If the Chairman of the meeting agrees
you may remain in the meeting and, at the discretion of the members present, take part in the
debate (but not vote in matters in which you have a direct interest unless the matter relates to
fees and subscriptions under B4 of the Bye-Laws).
If the Chairman has an interest to declare, he or she must leave the Chair for that item, and the
Vice-Chairman or other Member appointed by the meeting shall preside for that item.
A Register of Interests will be maintained centrally.
The Corporate Secretary will have access to, and will monitor, the record of disclosures. Any
RICS member or member of staff shall be allowed access.
Please be aware that a conflict of interest is also possible if anyone connected with you has
any professional, financial or business incentive or interest in another company or business
which may compete with or influence dealings with RICS.
You are responsible in conducting yourself in a way that maintains RICS reputation and to
ensure that RICS independence is not called into question.

4.

Articles or public speaking engagements

Any article you write for an external publication, or the content of any radio or television
broadcast or public speaking engagement must not claim to express an RICS view, except
when this is expressly authorised by or on behalf of RICS.

5.

Gifts, hospitality and inducements

You have a responsibility to act with the highest standards of integrity to avoid any allegations
of taking any form of inducement. You may at some point be offered business gifts and
hospitality from suppliers and others arising from your RICS Governance appointment. To
protect yourself and RICS, the following rules apply.
You must not:

accept any cash, cheques or voucher payments

accept any significant gifts or hospitality with an approximate value of over 30/50 (or
currency equivalent) (see below)
accept any corporate entertaining or hospitality the intention of which is to:
influence the placing of contracts with supplier (s)
recognize the award of a contract to a supplier (s)

solicit any gifts

accept any gifts given with the possible intention of influencing current or future
business transactions.
accept any inducement where the value increases if RICS exceeds a set target.

You should report the offer or receipt of an unacceptable gift in accordance with this policy to
the Corporate Secretary who will inform the Honorary Secretary and determine whether the gift
will be returned, retained or donated to charity. If necessary you should politely decline
acceptance, explaining RICS policy on receiving business gifts.
Similarly, you should not offer any of the above on behalf of RICS.
If the gift offered is valued under 30 (or currency equivalent), you may:

receive casual small gifts as a thank you, most commonly at Christmas. A small gift
valued at under 30 (or currency equivalent) may be accepted and may include a bottle
of wine, box of chocolates or gifts of office equipment. Office equipment often includes
the givers logo or other advertising material, such as office diaries, pens or a calendar,
which are generally considered to be advertising material and can be accepted. If you
are unclear as to the value of the gift, please refer to the Corporate Secretary for a
decision.

If the hospitality is valued under 50 (or currency equivalent) you may:

attend hospitality events. Such events should be attended by other business personnel
(eg not just yourself and your partner) and be of reasonable value and in a reasonable
location. Where an invitation could be seen as being a business inducement, it must be
declined.

undertake training supplied by industry or business partners where this can be

considered to enhance the service provided to RICS members and stakeholders.

Any gift or hospitality offered by you on behalf of RICS must also be in accordance with the
overall requirements of this policy and be approved by the Corporate Secretary who will consult
the Honorary Secretary if appropriate.

6.

Breach of policy
RICS will view any breach of this policy seriously. You are responsible for identifying conflicts
or potential conflicts of interest and need to ensure that these conflicts are disclosed and
monitored.

7.

Questions
If you have any questions or concerns about any potential conflicts of interest you may hold,
please speak to the Corporate Secretary.


Disclosure of interest
Please read the Conflict of Interest policy before completing this section.
Please note: If you have no interest to declare there is no need to return this form.
Category

Please give details

Title
Forename
Surname
Membership no
(if applicable)

Telephone no:

Email:

RICS Board/
Committee
Nature of the conflict
of interest

Details of any financial

or other benefits
received

External body or other

individual concerned
in the conflict
I confirm that the above information is complete and correct.
I undertake to update the accuracy of this information on an annual basis. I give my consent for this
information to be used for the purposes described in the Conflicts of Interest policy and for no other
purposes.
Signed:..
Dated:
Return to:

Dana Richardson
Corporate Assistant, Corporate Management
RICS
Parliament Square
London
SW1P 3AD