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Regulation Plans 2010

We have reviewed our risk assessment and the level of regulatory engagement that we need to have for all mainstream registered social landlords (RSLs). This is to take account of recent information received or recent engagement with the RSL. We have updated the published regulation plans to reflect this and have removed three regulation plans from our website because we have received the assurance we need from these RSLs and have decided to reduce our level of regulatory engagement to low or standard.

We have published Regulation Plans to the end of April 2010 for 52 RSLs. We have categorised three as High and 49 as Medium engagement. Our reasons for this level of engagement are reflected in the regulation plans, which also confirm how we intend to engage with these RSLs over the coming year. We are currently assessing information from another 11 RSLs to determine our level of engagement with them. We will publish any additional plans by the end of May 2010. We will continue to keep our level of regulatory engagement with individual RSLs under review to reflect any additional assurance we need.

We have continued to review and strengthen our approach to financial scrutiny and have asked a number of RSLs for additional financial information either through the published engagement plan or for low engagement RSLs, separately in writing.

We have decided to revise our annual assessment timetable in future to fit more closely with the receipt of key information returns we receive from RSLs such as the annual performance and statistical return (APSR), audited accounts and five year financial projections. This will ensure that our assessment and published plans are based on up to date information. We plan to carry out our next assessment in quarter three and publish regulation plans in quarter four of 2010/11.