Why we are engaging with Knowes Housing Association Ltd (Knowes)
We are engaging with Knowes about its governance.
In April 2024, Knowes notified us about a code of conduct matter. It commissioned an independent investigation into this matter. The independent investigation reported in August 2024. It upheld the code of conduct breach and identified some weaknesses in Knowes’ governance processes. In response to these weaknesses, Knowes plans to commission an independent governance review.
What Knowes must do
Knowes must:
- send us a copy of the remit for the independant governance review;
- tell us when the independent governance review will commence and update us on progress; and
- send us a copy of the outcome report following completion of the independent governance review and any actions it requires to take to address the findings from this review.
What we will do
We will:
- review the remit of the independent governance review and engage as necessary;
- review progress of the independent governance review and engage as necessary;
- review the outcome report following the independent governance review along with Knowes’ plans to address any findings from this and engage as necessary; and
- update our published engagement plan in the light of any material change to our planned engagement with Knowes.
Regulatory returns
Knowes must provide us with the following annual regulatory returns and alert us to notifiable events as appropriate:
- Annual Assurance Statement;
- audited financial statements and external auditor’s management letter
- loan portfolio return;
- five year financial projections; and
- Annual Return on the Charter.
It should also notify us of any material changes to its Annual Assurance Statement, and any tenant and resident safety matter which has been reported to or is being investigated by the Health and Safety Executive or reports from regulatory or statutory authorities or insurance providers, relating to safety concerns.