Why we are engaging with West Granton Housing Co-operative Ltd (West Granton)
We are engaging with West Granton about its governance.
In September 2021 West Granton notified us of allegations relating to breaches of its Code of Conduct by two governing body members. It commissioned an independent investigation into the allegations which found evidence that breaches of the Code of Conduct had occurred. West Granton developed plans to address these breaches. We engaged with West Granton about its handling of these matters.
In December 2021 West Granton notified us of a subsequent allegation of a breach of its Code of Conduct by one of the same governing body members. Two members of the governing body have since resigned.
Following our engagement, West Granton has developed a governance improvement action plan to address our concerns relating to its handling of these events. This includes the completion of a skills and training audit for governing body members that will be used to inform on further training needs and development. West Granton is engaging openly and constructively with us as it implements its governance improvement action plan.
What West Granton must do
West Granton must update us on the implementation of its governance improvement action plan including the outcomes of its governing body member skills and training audit.
What we will do
We will:
- review the updates on the implementation of West Granton’s governance improvement action plan and liaise as necessary;
- arrange to observe a governing body meeting and provide feedback; and
- update our published engagement plan in light of any material change to our planned engagement with West Granton.
Regulatory returns
West Granton 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.