The TSA will soon be starting its consultation on the new regulatory regime for RSLs, ALMOs and stock retaining local authorities. The exact time table for consultation is still being published – but watch this space.
We suspect that the new regime will be “co-regulatory” with elements of “required” regulation (published by the TSA) and “self regulation” (developed by individual associations, local authorities and ALMOs and by trade bodies, such as the National Housing Federation and the National Federation for ALMOs).
As part of the new regulatory regime we suspect some of the key early issues will be identifying which new regulations will apply to all housing providers (including ALMOs and stock retaining councils) and those which will only apply to RSLs. Linked to this issue will be the issues of fees payable for membership, the role of the Audit Commission and the ability for housing providers to challenge decisions of the TSA.
The NHF has recently updated its guidance on board member pay and its code of governance. The guides provide the latest advice on good practice and develops further, for example, the guidance for executive board members and, in relation to payment of board members, advice on avoiding the grant of employee rights to nonexecutive board members.