We have been engaging with Calvay to seek assurance on the delivery of its succession planning for the governing body, as well as its plans to address failure in the render of some of its homes.
Calvay has worked openly and constructively with us, providing timely updates on the actions taken to address both issues. Calvay has completed the work required and has provided us with the necessary assurance.
We therefore do not require any further assurance from Calvay other than the annual regulatory returns required from all RSLs.
Regulatory Returns
Calvay must provide us with the following annual regulatory returns and alter us to notifiable events as appropriate:
- Annual Assurance Statement;
- audited financial statements and external auditor’s management letter;
- loan portfolio return;
- five year financial projections; and
- Annual Return on the Charter
It should also notify us of any material changes to its Annual Assurance Statement, and any tenant and resident safety matter which has been reported to or is being investigated by the Health and Safety Executive or reports from regulatory or statutory authorities or insurance providers, relating to safety concerns.