Keep up to date with our work on regulation, in a rapidly changing regulatory environment.
Changes to the Regulatory Framework – consultation
The Homes and Communities Agency (HCA) has published a consultation paper proposing important changes to the Regulatory Framework. These include:
- Changes to the consents regime and registration process
- A proposed Code of Practice to supplement the Governance and Financial Viability Standard.
Our briefing outlines the proposals in more detail, with an initial response on the key areas.
Changes to the Regulatory Framework – consultation response
We have now responded to these proposed changes to the Regulatory Framework.
We welcome the HCA’s move away from the ring-fencing requirements outlined in its 2013 discussion paper, and:
- support the emphasis on effective risk management.
- agree that housing associations should keep registers of their assets and liabilities
- agree that housing association business plans should be subject to robust stress-testing
- suggest how the HCA can mitigate proposed restrictions on the general consent
- point out some practical limits on the use of the HCA’s consent power.
On 1 April 2012 the Tenant Services Authority (TSA) was abolished and the HCA took over as the regulator of social housing. A new Regulatory Framework was put into place, with the HCA discharging this function through a specially-appointed Regulation Committee.
The main Framework document incorporates the seven regulatory standards, together with information about the HCA’s general regulatory approach.