30/04/2026
Welcome! Spring has sprung and there is much to keep us busy in the governance world this month, as we enter into a new financial year.
This edition focuses on the latest updates from the Financial Conduct Authority Mutuals team, important new sustainability reporting standards for the sector, some of our top tips for managing conflicts of interest at a board level – and more. Enjoy!
Financial Conduct Authority Mutuals Registration Function Update
On 1 April 2026, the Financial Conduct Authority (FCA) provided some important updates in relation to its role as registering authority for mutual societies. These updates are important for registered providers of social housing (RPs) which are societies or who have societies in their group. The key updates are:
- Removal of the requirement for a statutory declaration for applications where they are not required by law. This impacts applications to release or satisfy a charge, amend a society’s rules, transfer its engagements or convert to a company. The aim is to save time and reduce costs for societies, where possible.
- Following the launch of the Mutual Societies Development Unit (MSDU) last year, the FCA has highlighted that organisations are using its pre-application support service – the first successful application has now been registered after using this service.
- The FCA notes it has reduced the time it takes to register a new society by 33%, to ten days.
Click here for further information on the MSDU and the services it provides.
Updated Sustainability Reporting Standard for Social Housing
On 13 April 2026, Sustainability for Housing (SfH) released the updated Sustainability Reporting Standard for Social Housing (SRS), SRS v2.1. The 2026 updates are relatively minor but include various streamlining and consolidation of criteria and updated guidance documents. Due to the relatively minimal nature of the changes, SfH will ask adopters to report against SRS v2.1 in the October 2026 reporting cycle.
The SRS is a voluntary standard which RPs can adopt to strengthen their ESG reporting. The Department for Business and Trade also recently published the final UK Sustainability Reporting Standards (UK SRS 1 and 2), which we previously reported on in our March 2026 snapshot. Whilst voluntary, adopting a standard can help RPs establish a practical benchmark for governance and transparency, strengthen internal ESG data collection, embed sustainability oversight into risk and compliance frameworks and demonstrate alignment with best practice to funders, lenders, and other stakeholders.
Updated FRC guidance on 'comply or explain' reporting under the UK Corporate Governance Code
On 16 March 2026, the FRC published updated guidance on the 'comply or explain' reporting required under the UK Corporate Governance Code (the Code). This will be important for organisations which have adopted the Code, and of interest to those who have adopted the National Housing Federation’s Code of Governance which takes a similar approach.
The guidance is designed to explain how a thoughtful, well-reasoned explanation for departing from a Code provision is not a governance failure and can be seen as a positive indicator of a board engaging seriously with its governance responsibilities. The FRC notes that a culture has developed which treats departures from the Code suspiciously, with organisations reporting full compliance even where an alternative approach is permissible under the Code and would better serve their shareholders and stakeholders.
Read the updated guidance here.
RSH - Regulatory judgements
Key findings from regulatory judgements over the last month include:
- A C4 grading for a local authority after very serious failings, including poor data assurance, a lack of accurate information on the quality of tenants’ homes and serious failings in its tenant engagement processes. Vitally, the RSH stated that the local authority’s failure to self-refer when an external review found it was not delivering a range of outcomes in the consumer standards was in itself a serious failing. This highlights the importance of self-referring to the RSH when there are regulatory breaches – not only is this a regulatory requirement but it is also central to the RSH’s co-regulatory approach.
- Two RPs (including a local authority) were given the highest consumer grade (C1). The RSH noted accurate and up-to-date understanding of tenants’ homes, proactive steps to comply with health and safety legislation, effective repairs services and tenant engagement opportunities.
- In relation to the two governance downgrades – the judgements stated that the RPs needed to improve the reliability, accuracy and completeness of their information as well as board reporting to support improved oversight of safety and quality outcomes for tenants.
Government Consultation on the Social Housing Tenure Standard
On 2 April 2026, the Ministry of Housing, Communities and Local Government (MHCLG) published a consultation on a proposed Tenure Direction to the RSH ahead of the implementation of reforms to the assured tenancy framework in the Renters’ Rights Act 2025 (the Act). The Act abolishes assured shorthold tenancies and once implemented, will require all assured tenancies to be periodic. The Act also abolishes section 21 evictions and introduces reformed grounds for possession.
Once issued, the Direction will be binding on the RSH, which must then consult on and implement the changes in the Tenancy Standard. The consultation will run until 28 May 2026. MHCLG intends to issue the final Direction to the RSH by October 2026, ahead of the tenancy reforms being implemented in October 2027.
We are providing up-to-date guidance, practical tools and commentary as the legislation is implemented: Access key information including timelines, a library of resources and events here.
Tips for managing conflicts of interest
Recent news articles have highlighted the importance of managing conflicts of interest at a board level. As a reminder, legal requirements and the RSH’s regulatory framework require RPs to manage interests and conflicts of interest carefully. Board members must not put themselves in a position where a personal interest or loyalty affects their ability to act in the best interests of the RP. This is an active duty – they must actively avoid putting themselves in a position of actual or potential conflict.
In terms of the practical management of interests and conflicts of interests, it is best practice for organisations to:
- ensure that their constitutions comply with legal requirements and that board members understand (and comply with) the processes contained within those constitutions;
- have a Code of Conduct and a conflicts of interest policy (these may be combined) which sets out guidance for board members. Where there is a co-terminous or ‘common’ board, processes for potentially splitting the board should be set out within these documents or a separate policy;
- identify risks relating to e.g. other appointments at an early stage in recruitment to ensure this is taken into account when considering whether board members are able to perform their role sufficiently;
- actively monitor the interests held by board members and capture changes during the year – not just annually;
- be proactive – consider interests and the risk for conflict when drawing up reports for the board and prepare the chair before the meeting;
- regularly review your board structures – internal interests still need to be managed carefully, particularly where there is cross-over between commercial subsidiaries and the RP board and the risk of shadow directorship is heightened; and
- train board members on their duties and associated risk management processes regularly.
If you would like any further information or support with managing conflicts of interest, please contact Sarah Greenhalgh or Rose Klemperer .
Events and articles
SID network
The SID network is an opportunity for SIDs in the housing sector to come together and discuss key issues affecting them in their role. Each session is an hour and features a short presentation followed by an open discussion, creating space for shared learning and practical insight. The network is a forum for connecting with peers, exchanging best practice and supports knowledge sharing across organisations to enable SIDs to stay informed and supported in their roles.
Our next SID Network session will take place on 6 May 2026 at 2pm and will focus on:
- Renters’ Rights: key things SIDs need to know following the changes introduced on 1 May
- Key drivers behind governance and consumer regulatory judgements from the Regulator of Social Housing
Please get in touch with Kate Lorraine-Francis for more information.
New Network for Audit Committee Chairs
We are about to launch our new Audit Committee Chair’s Network (ACCN), which will bring together individuals from across the housing sector to make connections and discuss the challenges facing the Audit Committee.
If your Audit Committee Chair is interested, please get in touch with Stacey Butterworth for more information.
Conferences we are attending:
- Housing Brighton: People and Place 2026 – 6th – 7th May – Andrew Shaw, Katie Dyer, Rebecca Gibson
- UKREiiF – 19th – 21st May – Daniel Halstead and Sarah Orchard
- NHF Governance Conference – 18th June – Rose Klemperer and Sarah Greenhalgh
- Housing 2026 - 23rd- 25th June – Andrew Shaw and Louise Leaver
Other articles you might be interested in:
The Renters’ Rights Act, rental discrimination and implementation in Wales
Renters’ Rights Act and Supported Housing Providers: Are you ready?
How to prepare your organisation for strengthened harassment and whistleblowing rules
Build a stronger understanding of the sector — follow our Housing page.
Previous Editions
- 30/03/26 Company Secretary Snapshot - March 2026
- 27/02/26 Company Secretary Snapshot - February 2026
- 03/02/26 Company Secretary Snapshot - January 2026
- 28/11/25 Company Secretary Snapshot - November 2025
- 28/10/25 Company Secretary Snapshot - October 2025
- 26/09/25 Company Secretary Snapshot - September 2025
