Engagement plan from 31 March 2023 to 31 March 2024

Landlord name

River Clyde Homes

Publication date

31 March 2023

Regulatory status


The RSL meets regulatory requirements, including the Standards of Governance and Financial Management.

Why we are engaging with River Clyde Homes 

We are engaging with River Clyde Homes about its governance and because it is a systemically important landlord.  

We refer to a small number of RSLs as systemically important because of their stock size, turnover or level of debt or because of their significance within their area of operation. We need to maintain a comprehensive understanding of how their business models operate, and how they manage the risks they face and the impact these may have. So we seek some additional assurance each year through our engagement plans. Given River Clyde Home’s size we consider it to be systemically important.  

In November 2021, the Housing and Property Chamber (First Tier Tribunal) found River Clyde Homes to have breached the Property Factor Code of Conduct on two separate occasions. River Clyde Homes did not notify its governing body nor us about this at the time.     

When this was brought to our attention in February 2023, we met with River Clyde Homes to discuss the governance of its factoring service. River Clyde Homes had already commissioned an independent review of the service which includes the governance arrangements. River Clyde Homes is engaging openly and constructively with us and has committed to reporting its progress to us.   

What River Clyde Homes must do 

River Clyde Homes must: 

  • provide copies of its Board and audit committee minutes as they become available; and
  • send us a copy of the final report from the independent review of its factoring service. 

What we will do 

We will: 

  • review the minutes of the Board and audit committee meetings and liaise as necessary; 
  • review the report from the independent review of River Clyde Homes’ factoring service and engage as necessary;
  • observe River Clyde Homes’ Board;
  • meet with River Clyde Homes’ senior staff to discuss progress with the business plan and any risks to the organisation; and
  • update our published engagement plan in the light of any material change to our planned engagement with River Clyde Homes. 

Regulatory returns  

River Clyde Homes 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.  


Our lead officer for River Clyde Homes is:

Gemma Rickman

Regulation Manager