Still working through possible Brexit implications for your organisation? If you missed the NCVO/BWB webinar on Europe, see the link in today’s Briefing to a full recording.
BWB Partners Abbie Rumbold and Paul Jennings will be speaking at a Social Enterprise UK event looking at the implications of Brexit for social enterprises. See the events section for more details.
At a glance
The Charity Commission has published its annual report.
The new Fundraising Regulator has officially launched.
The Social Finance Global Network has launched its latest white paper, Social Impact Bonds: The Early Years.
The Education Funding Agency has published the 2016 version of its Academies Financial Handbook.
The Homes and Communities Agency has updated parts of its “Regulating the Standards” publication for housing providers.
A phone number and website allowing complaints about the conduct of Scotland’s charities have gone live.
Annual Report 2015-16
New brand and logo
The Commission launched its new logo this week; for information see this blog from William Shawcross which states that the old logo and brand did not reflect the new approach of the commission and that the new logo “represents us as a regulator much better”.
The Commission has announced that it has opened two new statutory inquiries and has already used its temporary and protective powers under s. 76(3)(d) Charities Act 2011 in both cases. The first is intoConsole Suicide Prevention Ltd (1153096) and the second inquiry is into Manor Building Preservation Trust Limited (1104318).
Implications for the sector
See here for a link to last week's recording of the NCVO/BWB webinar which discussed implications for the sector.
BWB will also be circulating a briefing following our Europe event tomorrow.
Inquiry by Commons Select Committee
The Foreign Affairs Committee has launched a rolling inquiry into the Government’s handling of the process of departing the EU and the ongoing implications of the decision for the UK’s role in the world.
Also see under Data Protection, Arts and Culture and International Development.
New reporting requirements for charities funded by investments
Lord Hodgson has put a written question to Government about what assessment there has been of the costs of compliance for charities. The main bit of the answer is “HMRC has estimated that between 500 and 8,000 of the more than 165,000 charities in the UK could be affected by the CRS. Precise estimates of the overall cost are difficult to make given the upfront costs to charities is still uncertain. There has been no assessment of the impact on grant recipients.”
The new Fundraising Regulator has officially launched.
Fundraising Preference Service (FPS)
Civil Society Media reports the final recommendations from the FPS working group headed by George Kidd will be presented to the board on 13 July. The Fundraising Regulator will then publish a “brief consultation paper” on the issue of the FPS.
Fundraising Standards Board (FRSB)
Has issued this press release confirming the transfer of regulation of complaints to the Fundraising Regulator. The FRSB office will remain operational for several weeks “as we transfer the programme of work to the new regulator and provide support for you, our members. At the end of this period, any remaining membership funds will be returned to members.”
Has published the annual FRSB Complaints Report, revealing that FRSB member charities recorded a total of 66,814 complaints about charity fundraising in 2015.
Also see under Scotland and Knowhow below.
See this speech by Baroness Neville-Rolfe, Minister for Data Protection about the UK’s exit from the EU and data protection.
The Information Commissioner’s Office (ICO) has published this overview of the key themes of the General Data Protection Regulation (GDPR). THE ICO says “The result of the 23 June 2016 referendum on membership of the EU now means that the Government needs to consider the impact on the GDPR. However, we still think it will be useful to publish this overview. This is because once implemented in the EU, the GDPR will be relevant for many organisations in the UK – most obviously those operating internationally. The other main reason is that the GDPR has several new features – for example breach notification and data portability. Therefore we thought it would still be useful to familiarise information rights professionals with the GDPR’s main principles and concepts.”
The Social Finance Global Network has launched its latest white paper, Social Impact Bonds: The Early Years. Alongside the paper, Social Finance is also launching its live global database of Social Impact Bonds. The database can be sorted by country, issue area, investor, payor and service provider.
CAF Venturesome – the social investment arm of the Charities Aid Foundation - has made its 500th social investment.
On 8 July 2016, the FCA published a call for input on an upcoming post-implementation review of its crowdfunding rules. When the FCA introduced rules for the regulation of crowdfunding platforms in March 2014, it committed to carry out a full review of their impact. The FCA is now seeking input on which areas it should consider as part of its review of the rules covering investment-based crowdfunding and loan-based crowdfunding. In the call for input, the FCA sets out its initial thinking on areas where it might be appropriate to adjust its rules. You can read the Call for Input here. Click here to read an article by Gillian Roche-Saunders, head of BWB Compliance, regarding the recent Call for Input.
Peer to Peer (P2P) lending
On 7 July 2016, the FCA published the minutes of the FCA board meeting on 25 and 26 May 2016. Included at the meeting was a paper on peer to peer (P2P) lending. The board:
- Noted the background to the regulation of P2P lending since 2014, the developments in the market and the challenges for the current regulatory approach and how it compared to regulation for other activities.
- Discussed the changes in the market and the possible alternatives to the current disclosure based regime, noting that the executive were not yet in a position to provide a considered view to the board on this before carrying out a post-implementation review. The board supported the work to carry out a review of this kind.
- Recognised the potential benefits to competition and the need to ensure that consumers continued to be protected appropriately. It encouraged the executive to communicate that the FCA was looking closely at this area.
On 4 July 2016, the PRA issued a consultation paper setting out proposals for changes to the reporting requirements that apply to credit unions (CP24/16). The purpose of the proposed rules is to support the timely submission of accurate regulatory data by credit unions and to provide that such data are consistent with the Credit Unions Part of the PRA Rulebook and relevant to its objectives.
Last week Minister for the Cabinet Office, Matt Hancock, spoke about the benefits of public sector mutuals and the new mutuals strategy.
The Education Funding Agency has published the 2016 version of its Academies Financial Handbook, which sets out the financial management, control and reporting requirements applicable to academy trusts.
Health and social care
A care home company based in Middlesex has been fined £100,000 after an elderly resident of a Surrey home died from scalding injuries.
The Local Government Ombudsman has issued its first joint investigation report into a private care home provider and a local authority's subsequent safeguarding investigation following allegations of neglect.
The Homes and Communities Agency has updated its “Regulating the Standards” publication for housing providers.
International development/organisations working overseas
BOND’s Chief Executive has issued this blog about what Brexit means for international development.
The UK government is to help 175,000 of the poorest, most marginalised girls in the world to get a quality education.
HM Treasury has published an advisory note on money laundering and terrorist financing controls in overseas jurisdictions.
Arts and culture
Last week Culture Secretary John Whittingdale MP “met with key stakeholders across DCMS sectors to discuss how the outcome of the EU Referendum will provide new opportunities for the UK”. See here for a summary.
With thanks to NAVCA for flagging this, the TV Licensing Agency has published guidance for community groups on when a TV licence is needed to host a group viewing of an event like the Olympics coverage.
Self regulation of fundraising
A phone number and website allowing complaints about the conduct of Scotland’s charities have gone live. This new phone number and website will be run by Scottish Fundraising Complaints – set up by the Scottish Council for Voluntary Organisations and the Scottish charity regulator OSCR – and will give people information about how to raise any concerns they may have.
There is a new appeal before the Charity Tribunal for Northern Ireland, brought by Phennick Cove Developments (PCD). According to this NI newspaper article, PCD was set up to develop and build a marina at Ardglass, and the Charity Commission for Northern Ireland has now called on PCD to register as a charity.
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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 12/07/2016 in Legal UpdatesBack to Knowledge