Basic Search  |  Summaries  |  Advanced SearchPenalty: £0
Year: 2022
Date: 8 December, 2022
Offence Group: consumer-protection-related offences
Offence Type: consumer protection violation
Violation Description: Regulatory Notice served. The regulator has concluded that: Auxesia Homes Limited (Auxesia) is non-compliant with the Governance and Financial Viability Standard. Auxesia has failed to demonstrate that it has an appropriate, robust and prudent risk and control framework in place which requires that there is access to sufficient liquidity at all times. Auxesia has failed to assess, manage, and address risks to ensure the long-term viability of the registered provider including ensuring social assets are protected by carrying out detailed and robust stress testing, and before taking on new liabilities, ensuring it understands and manages the likely impact on current and future business and regulatory compliance. The Auxesia board has not demonstrated that it is managing its affairs with an appropriate degree of skill, independence, diligence, effectiveness, prudence and foresight.
Agency: Regulator of Social Housing
Source of Data: (click here)