Charity Update - 17 October 2017 | Fieldfisher
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Charity Update - 17 October 2017



United Kingdom

Our Charity Update provides the latest tax news and developments

12 October 2017

Regulatory alert for military charities

The Charity Commission issues an alert to recently registered charities that support veterans. It reminds trustees of the importance of:

• ensuring they are safeguarding people in their care

• complying with their legal trustee duties when carrying out and overseeing their charity’s fundraising.

The Charity Commission

10 October 2017

Charity registration response times

The Charity Commission says that its registration team is currently experiencing extremely high demand for its services.

The Charity Commission

10 October 2017

MiFID II – Legal Entity Identifier (LEI) update

The Financial Conduct Authority provides an update on LEI.

A LEI is a unique identifier for persons that are legal entities or structures including companies, charities and trusts. From 3 January 2018 firms subject to MiFID II transaction reporting obligations will not be able to execute a trade on behalf of a client who is eligible for a LEI and does not have one.

Financial Conduct Authority

It has come to the attention of Fieldfisher that a number of fund managers are sending out letters telling charitable trusts that they have to apply for a LEI both initially and annually, but this is contrary to advice obtained from the Financial Conduct Authority that after the initial application for an LEI annual applications are not needed.

5 October 2017

Fundraising Regulator publishes Code Consultation on Data Protection

The Fundraising Regulator announces the opening of a Code Consultation on Data Protection.

Fundraising Regulator

3 October 2017

MoU signed by Fundraising Regulator and the Charity Commission Northern Ireland

The Fundraising Regulator and Charity Commission for Northern Ireland sign a Memorandum of Understanding.

Fundraising Regulator