Post Brexit – what does it mean? See the EU Referendum section of today’s Briefing for our post Brexit event on Wednesday 13th July. We hope to see as many of you there as possible.
BWB is delighted to have been shortlisted for the STEP Private Client Awards 2016/17, Private Client Legal Team of the Year.
At a glance
We have included links to comment on the referendum result from across the charity and social enterprise/social finance sector including from Social Enterprise UK, the Information Commissioner’s Office and the Financial Conduct Authority.
The Foundation for Social Improvement has published a report on the levels of collaboration between charities.
The Office of the Scottish Charity Regulator has published a new guide to grant giving.
The Chancellor, George Osbourne, has released this statement. He confirms the Government is going to delay triggering the UK’s exit from the EU until a new Prime Minister has been appointed.
Civil Society Media sums up comment from key individuals in the sector here.
NCVO has published a detailed briefing outlining the implications of Brexit for charities.
See here for comment from CAF.
Also see under Data protection, Social Finance, Social Enterprise and Health below.
BWB acted as the legal advisers to Britain Stronger in Europe before its designation as the official lead campaign group on the Remain side of the debate and throughout the EU referendum campaign. BWB partners Simon Steeden, Rupert Earle, Rosamund McCarthy and Melanie Carter provided wide-ranging advice including on election and campaigning law, fundraising and media law. Simon Steeden said today,"Despite the result, we feel privileged to have assisted our client with its hard fought battle on this matter of genuine cross-generational significance. We are now working with our charities and social enterprises to ascertain how they can best engage with any new constitutional settlement.”
Join us at our event 'What does Brexit mean for my organisation?' on Wednesday 13th July. Click here for more information and to sign up.
The latest “double defaulter” inquiry report has been published, this time into The Greek Orthodox Community of St John the Baptist and St Anthony (1091128).
A new appeal has been filed by “Johnson Platinum”. No details given.
Tax and VAT
The First Tier (VAT) Tribunal has held that Friends of the Earth Trust (the charity) cannot reclaim input tax on the training of “street fundraisers”.
The Fundraising Regulator has published a consultation on arrangements for its funding through a registration and levy system.
Face to face fundraising
See VAT decision under Tax and VAT above.
People are leaving record amounts of money to armed forces charities in their wills, according to new analysis released by the Charities Aid Foundation.
The Information Commissioner’s Office has issued this statement about the referendum result:
“The Data Protection Act remains the law of the land irrespective of the referendum result.
“If the UK is not part of the EU, then upcoming EU reforms to data protection law would not directly apply to the UK. But if the UK wants to trade with the Single Market on equal terms we would have to prove 'adequacy' - in other words UK data protection standards would have to be equivalent to the EU's General Data Protection Regulation framework starting in 2018.
“With so many businesses and services operating across borders, international consistency around data protection laws and rights is crucial both to businesses and organisations and to consumers and citizens. The ICO’s role has always involved working closely with regulators in other countries, and that would continue to be the case.
“Having clear laws with safeguards in place is more important than ever given the growing digital economy, and we will be speaking to government to present our view that reform of the UK law remains necessary.”
Statement from the Financial Conduct Authority (FCA) on EU referendum result
There is a statement on the FCA’s website following the referendum result. The statement explains that much financial regulation which is applicable in the UK derives from EU legislation, and that this regulation will continue to be applicable until changes are made as directed by Government and Parliament. The FCA emphasises that firms must continue to abide by their obligations under UK law, including those derived from EU law, and this includes implementing legislation that is still to come into effect. The full statement can be found here.
FCA consults on changes to the Client Assets sourcebook and Collective Investment Schemes sourcebook
The FCA is consulting on proposed changes to the Client Assets sourcebook (CASS) and the Collective Investment Schemes sourcebook (COLL), following the adoption of the Undertakings for Collective Investment in Transferable Securities V Level 2 Regulation (UCITS V Level 2 Regulation). What does this mean in practice? The aim of UCITS is to maintain a common standard of investor protection across the EU. The UCITS V Level 2 Regulation was published by the European Commission on 24 March 2016. It will apply to firms from 13 October 2016. This regulation introduces new requirements for depositaries and trustees of UCITS (UCITS depositaries). These requirements include safekeeping requirements for UCITS depositaries, requirements for the UCITS management company and the depositary to act independently, and steps to protect the UCITS assets if a third-party delegated custodian becomes insolvent. Please see here for further information.
See here for comment from Social Enterprise UK on the referendum result.
The Local Government Ombudsman has published a report on a complaint about admissions arrangements for a faith based school, Khalsa Voluntary Aided Primary School (school) (part of the Slough Sikh School Trust).
Faith based organisation
See under Education above.
A Foundation for Social Improvement report on the levels of collaboration between charities warns that many small charities are at risk of closure due to their reluctance to participate in sharing their knowledge and expertise. The report examines the five different types of collaboration: networking; strategic alliances; formal partnerships; joint ventures; and mergers. In conclusion the report finds that not enough small charities are committing to developing collaborations that could provide significant benefits to beneficiaries.
The Competition and Markets Authority has published an open letter to procurement professionals with guidance on detecting and deterring bid-rigging.
The Office of the Scottish Charity Regulator (OSCR) has published a new guide to grant giving setting out the key points grant giving charities need to consider to make sure they comply with the Charities and Trustee Investment (Scotland) Act 2005 Act.
The Charity Commission for Northern Ireland (CCNI) has published the latest edition of CCNI News. It includes articles on the new online registration form, annual reporting, matters of material significance and new research into public trust and confidence in NI charities.
CCNI’s annual public meeting will be held on Monday 19 September 2016 in Lisburn and booking is now open.
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Disclaimer - The information contained in this update is not intended to be a comprehensive update - it is our selection of the website announcements made in the week up to last Friday which we think will be of interest to charities and social enterprises. The content is necessarily of a general nature - specific advice should always be sought for specific situations.
Posted on 28/06/2016 in Legal UpdatesBack to Knowledge