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Government committee to scrutinise HCA's social housing regulation plans

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Government committee to scrutinise HCA's social housing regulation plans

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Published by Max Salsbury for 24dash.com in Housing and also in Central Government

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The Communities and Local Government Committee is inviting submissions before it takes oral evidence from the chair of the Homes and Communities Agency's (HCA) independent Regulation Committee (RC).

The Committee wants to hear from interested parties, such as academics, housing associations, financial institutions, local authorities, builders and tenants, on the HCA's economic and consumer regulation.

The following areas will be examined by the Committee:

  • What has the RC has been doing since it was set up in 2012, how well has it done, are there other things it should have been doing, and what impact has it had on the social housing sector since its establishment?
  • What are the major risks facing housing associations and the social housing sector? Are the standards set by the RC on governance and financial viability adequate to mitigate those risks? Are the established arrangements providing self-regulation of the sector being adequately supervised and tested? What effect are EU procurement rules having on the financial stability of the sector?
  • Is the RC policing the financial regulatory regime adequately to address both the risks of the failure of individual registered providers and systemic failure? Has it the power and resources needed to regulate effectively?
  • In April, the HCA published a consultation document. Why are changes needed, and are those proposed adequate? Would the proposed changes have any adverse consequences?
  • Are the arrangements in place sufficient to preserve the independence of the RC in relation to the HCA and the sector?
  • Are the standards set by the RC relating to consumer regulation adequate and are the monitoring arrangements sufficient?

The Committee has said that submissions should be no more than 3,000 words long and should be in by 27 June.

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