Why we are engaging with North View Housing Association Ltd (North View)
We are engaging with North View about its Governance.
North View failed to notify us in accordance with regulatory guidance on Notifiable Events about weaknesses in the management of its services to factored owners. North View has recently completed an improvement plan to address the issues identified.
North View’s Management Committee has decided to commission an independent governance review to assess North View’s compliance against the Regulatory Standards of Governance and Financial Management (Regulatory Standards), which will include compliance with our regulatory guidance on Notifiable Events. We are engaging with North View as it progresses the governance review. North View is engaging openly and constructively with us.
What North View must do
North View must:
- provide regular updates on progress with the independent review of its governance and compliance with the Regulatory Standards.
What we will do
- review North View’s progress with the independent review of its governance and compliance with the Regulatory Standards, and engage as necessary; and
- update our published engagement plan in the light of any material change to our planned engagement with North View.
North View must provide us with the following annual regulatory returns and alert 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.