Why we are engaging with Thenue Housing Association Ltd (Thenue)
We are engaging with Thenue about its governance.
In September and October 2025, we received complaints about Governance issues at Thenue. Thenue then notified us that 11 members of the governing body had resigned leaving it with only four members. Thenue then received further complaints about governance issues.
Thenue took steps to identify and appoint new governing body members to ensure it was meeting its constitutional requirements and it now has a governing body which complies with its constitution. Thenue has commissioned an independent investigation into the complaints about its governance.
Thenue’s senior officer left the organisation in April 2025 and it has had two interim senior officers since then. It recently appointed another interim senior officer and is taking forward the recruitment of a permanent senior officer. Thenue has experienced further change in the senior team and currently has an interim Director of Finance in post.
We are engaging with Thenue to seek assurance about its continued compliance with the Regulatory Standards of Governance and Financial Management (the Standards) as it manages the changes within its governing body and senior team and about its investigation into the complaints regarding governance issues.
We will also seek assurance about Thenue’s progress with the appointment of a permanent senior officer and its longer term succession plans for the governing body.
Thenue is engaging openly and constructively with us.
What Thenue must do
Thenue must:
- send us the information we require about its continued compliance with the Standards;
- keep us informed about its investigation into the complaints about governance issues; and
- keep us informed about its progress in recruiting a permanent senior officer and its longer term succession plans for the governing body.
What we will do
We will:
- meet Thenue monthly to seek assurance about its continued compliance with the Standards;
- consider the outcome of the investigation into complaints about governance issues and engage as necessary; and
- review the information Thenue provides about its progress in recruiting a permanent senior officer and its longer term succession plans for the governing body and engage as necessary.
Regulatory Returns
Thenue must provide us with the following annual regulatory returns and alerts 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.