Labour MP defends himself as ‘renters champion’ after ‘poor conditions’ found in his properties
A Labour politician has defended himself as a “renters champion” despite flats he rents out reportedly found to be in poor condition.
Jas Athwal, the newly-elected MP for Ilford South, owns 15 rental flats, but some tenants have claimed they regularly have to clean their bathroom ceilings to remove mould.
In an investigation first reported by the BBC, one tenant in a block of seven flats in Seven Kings, Redbridge, said “there are ants everywhere” including on their child’s body and clothes.
Andrew Boff, a Conservative member of the London Assembly, who has also visited the properties, told Sky News that they were in “poor condition” and maintenance is to such a poor degree that it is “a risk to the residents”.
Responding to the investigation, Mr Athwal said he was “shocked” to hear of the reported condition of his properties, adding that they were managed by an agency which did not communicate any problems back to him.
“I am a renters champion,” he said, adding: “I’m proud to rent out homes with secure tenancies at below-market rents.
“I want every one of my tenants to have excellent accommodation; I’m shocked at the reported condition of a number of the properties and have asked the managing agent for an explanation and immediate action to rectify any issues.
“I know it’s my responsibility to have issues addressed as soon as they arise and have met with the property management company to understand failures in communication.
“I’m profoundly sorry that tenants have been let down and will be reviewing the property management and how matters are escalated going forward.”
Loose electrical cables in one of the seven flats
He said repairs and maintenance work on the properties will be done “swiftly”.
The discovery comes after Labour’s general election manifesto included a commitment to “transform” the experience of private renting.
A detached smoke detector
Formerly the leader of Redbridge Council, Mr Athwal is also required to have a selective property licence in order to rent out the block of seven flats – a system he introduced in 2017 when he was in charge of the council.
But Mr Athwal admitted that he had “recently seen an email” which said the licences were due to expire.
“I am in the process of renewing all licences,” he said.
“As council leader I implemented the most rigorous landlord licencing scheme in London in 2017, and expanded the scheme in 2023 and 2024 – the scheme would’ve been even stronger if Conservative housing secretaries had not repeatedly watered it down.
“In 2019, I led a campaign calling on government to abolish Section 21 evictions, further protecting tenants’ rights, which was again blocked by the Conservatives.”
It comes after the BBC found the council’s public licence register indicated that none of the seven properties had a licence.
Exposed electricals hanging from the ceiling
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Mr Boff also confirmed that there appears to be no record of any such licence – which he said landlords have to pay to receive – for the flats.
“He [Mr Athwal] calls himself a renters champion, and even introduced the licensing regime that apparently was trying to [get] some better deals for renters,” Mr Boff told Sky News.
“But it is a licensing regime that he didn’t avail himself of, whereas plenty of other people, plenty of other landlords in the London borough of Redbridge have had to pay money in order to get a licence so that they could let out their properties.”
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Mr Boff added that he feels Mr Athwal’s statement “sounds like bravado” and he would have respected him more if “he apologised to tenants for the poor service”.
“Unfortunately he is now trying to brazen this out, but I have seen the evidence and cannot understand how he can maintain the position that tenants are getting a good service from him.
“The landlord is responsible for the letting of the property. They take on an agent to make it easy for them, but they are the responsible people. If the managing agent is not doing their work, then that is the landlords’ responsibility.”
Mr Boff has called for both the Labour Party and Redbridge Council to investigate Mr Athwal.
Along with the 15 residential properties, the Labour politician also rents out three commercial properties, making him the biggest landlord in the House of Commons, according to Financial Times analysis of data from parliament’s register of members’ interests.
The US Nasdaq stock exchange is making SEC approval of its proposal to offer tokenized versions of stocks listed on the exchange a top priority, according to the exchange’s crypto chief.
“We’ll just move as fast as we can,” Nasdaq’s head of digital assets strategy, Matt Savarese, said during an interview with CNBC on Thursday, when asked whether the SEC could approve the proposal this year.
“I think what we have to really evaluate where the public comments come back in and then answer and respond to the SEC questions as they come through,” Savarese said. “We hope to kind of work with them as quickly as possible,” Savarese said.
Savarese says Nasdaq isn’t “upending the system”
The proposal, submitted by Nasdaq on Sept. 8, is requesting to allow investors to buy and sell stock tokens — digital representations of shares in publicly traded companies — on the exchange.
Savarese emphasized that Nasdaq is not trying to overhaul the way stocks are invested in when asked whether he expects other major exchanges to follow suit.
“We’re not looking at upending the system; we want everyone to come along for that ride and bring tokenization more into the mainstream,” he said.
“We want to do it in that responsible investor-led way first, under the SEC rules themselves,” he added.
It was only in October that Robinhood CEO Vlad Tenev said that tokenization will “eventually eat the whole financial system.”
The crypto industry is divided on tokenized equities
Savarese emphasized that Nasdaq is aiming to be an innovator in the ecosystem, noting that the exchange was the first to transition markets from paper-based trading to electronic systems.
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Tokenizing stocks has been one of the most significant talking points in the crypto industry this year.
On Sept. 3, Galaxy Digital CEO Mike Novogratz said the company became the first Nasdaq-listed company to tokenize its equity on a major blockchain following its launch on the Solana network.
The conversation around tokenized equities has also drawn skepticism from the crypto industry.
On Oct. 1, Rob Hadick, general partner at crypto venture firm Dragonfly, told Cointelegraph that tokenized equities will be a significant benefit to traditional markets, but may not be a boon to the crypto industry as others have predicted.
Hadick said that if tokenized stocks use layer-2 networks, it creates “leakage” as value and may not flow back to Ethereum or the broader crypto ecosystem as much as hoped.
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Hester Peirce, a commissioner of the United States Securities and Exchange Commission (SEC) and head of the SEC’s Crypto Task Force, reaffirmed the right to crypto self-custody and privacy in financial transactions.
“I’m a freedom maximalist,” Peirce told The Rollup podcast on Friday, while saying that self-custody of assets is a fundamental human right. She added:
“Why should I have to be forced to go through someone else to hold my assets? It baffles me that in this country, which is so premised on freedom, that would even be an issue — of course, people can hold their own assets.”
Peirce added that online financial privacy should be the standard. “It has become the presumption that if you want to keep your transactions private, you’re doing something wrong, but it should be exactly the opposite presumption,” she said.
The comments came as the Digital Asset Market Structure Clarity Act, a crypto market structure bill that includes provisions for self-custody, anti-money laundering(AML) regulations, and asset taxonomy, is delayed until 2026, according to Senator Tim Scott.
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Exchange-traded funds (ETFs) challenge Bitcoin’s self-custody ethos
Many large Bitcoin (BTC) whales and long-term holders are pivoting from self-custody to ETFs to reap the tax benefits and hassle-free management of owning crypto in an investment vehicle.
“We are witnessing the first decline in self-custodied Bitcoin in 15 years,” Dr. Martin Hiesboeck, the head of research at crypto exchange Uphold, said.
Hiesboeck attributed the shift to the SEC approving in-kind creations and redemptions for crypto ETFs in July, which allowed authorized holders to exchange crypto for ETF shares and vice versa without triggering a taxable event, unlike cash-settled ETFs.
“A move away from the self-custody mantra of ‘not your keys, not your coins’ is another nail in the coffin of the original crypto spirit,” Hiesboeck added.
In February, notable Bitcoin analyst and investor PlanB, the developer of the BTC stock-to-flow model, announced that he transferred his Bitcoin to ETFs to alleviate the “hassle” of private key management.
PlanB’s announcement caused an outcry in the Bitcoin community, as many voiced concerns that handing over custody to a third party clashed with Bitcoin’s core values.
Magazine: When privacy and AML laws conflict: Crypto projects’ impossible choice
Jeremy Corbyn has declined to say his Your Party co-founder Zarah Sultana is a friend as supporters of the new grouping gather in Liverpool.
Speaking to Sky News on the eve of the conference, Mr Corbyn acknowledged “stresses and strains” in the set-up of the party but said it had become “a lot better in the last few days and weeks and we’re going to get through this weekend”.
The former Labour leader has publicly clashed with Ms Sultana, the MP for Coventry South, over the launch and structure of the new party.
Asked if they were friends, Mr Corbyn said they were “colleagues in parliament, and we obviously communicate and so on”.
The pair appeared at separate events on the eve of the party’s inaugural gathering.
Ms Sultana had previously claimed she was being “sidelined” by a “sexist boys’ club” within the fledgling party.
Mr Corbyn said her comments were an “unfortunate choice of words” but added that he had been more involved in the organisation of the conference than she had.
The co-founders have had a strained relationship since setting up the party. Pic: Your Party
The Islington North MP also said that Your Party was still waiting for Ms Sultana to transfer all of the funds she had raised from supporters.
“Obviously having money up front for a conference is a big help,” he said.
Ms Sultana has insisted she is transferring the donations in stages.
The weekend gathering in Liverpool will see supporters choose between four options for a permanent party name: Your Party, Our Party, Popular Alliance, For the Many.
The preferred choice of Ms Sultana – The Left – did not make the ballot.
Similarly, the Coventry MP had said she favoured a co-leader approach, but members will only be able to pick between single leadership or collective leadership models.
Speaking at her own pre-conference rally, Ms Sultana blamed a “nameless, faceless bureaucrat” for restricting the choices.
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The meeting also risked being disrupted by a series of member expulsions. One of those ejected, Lewis Nielsen, accused a “clique” of trying to “take over”.
Your Party sources said expulsions related to members of the Socialist Workers Party and that holding another national party membership was not allowed.
Ms Sultana blamed a “culture of paranoia at the top” and said she believed the same people who had been briefing against her were now also expelling members.
Mr Corbyn will open the conference on Saturday, while the results of the main decision-making votes will be announced on Sunday.
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