Basic Search  |  Summaries  |  Advanced SearchPenalty: £0
Year: 2021
Date: 18 October, 2021
Offence Group: consumer-protection-related offences
Offence Type: consumer protection violation
Violation Description: Regulatory Notice served. The regulator has concluded that - 3CHA Ltd (3CHA) is non-compliant with the Governance and Financial Viability Standard. It has failed to ensure that it has effective governance arrangements in place that deliver its aims, objectives and intended outcomes for tenants in an effective, transparent and accountable manner. 3CHA has failed to demonstrate that it has an appropriate, robust and prudent risk and control framework in place. It has also not been able to demonstrate that it is managing its affairs with an appropriate degree of skill, independence, diligence, effectiveness, prudence and foresight. 3CHA has failed to ensure that any arrangements it enters into do not inappropriately advance the interests of third parties or are arrangements which the regulator could reasonably assume were for such purposes. 3CHA has failed to demonstrate that it is managing its resources effectively to ensure its viability is maintained while ensuring that social housing assets are not put at undue risk. It has also failed to evidence that its financial forecasts are based on appropriate and reasonable assumptions. 3CHA has been unable to demonstrate that it complies with the Rent Standard.
Agency: Regulator of Social Housing
Source of Data: (click here)