In February 2012, the FATF published the revised FATF Recommendations (also known as the Standards). The Standards continue to develop to detect and prevent new money laundering and terrorist-financing techniques impacting the international financial system, such as misuse of virtual assets and COVID-19 related threats ...
The Threats California is used to wildfires. But the Golden State's record-breaking 2020 wildfire season was particularly brutal. A blistering heat wave fueled dozens of simultaneous fires – conditions that spurred Gov. Gavin Newsom to declare a statewide state of emergency. Tens of thousands of people were evacuated from their residences. But, was not – and is not – the only threats California residents face ...
Trusts are used as a structuring mechanism in a range of legal contexts including wealth and succession planning, pensions, philanthropy, investment funds and various other commercial settings ...
The Management and Supervision of Legal Entities Act (Wet Bestuur en Toezicht Rechtspersonen, hereinafter referred to as the "Wbtr") aims to improve the quality of management and supervision of various Dutch legal entities, such as associations, cooperatives and foundations. A number of articles of law in the field of management and supervision, which now only apply to Dutch BVs and Dutch NVs, will also become applicable to these legal entities ...
There is much scope for charities to work more closely with business for mutual benefit, going beyond the provision of traditional CSR support, in order to address big problems facing all of us. The latest annual survey commissioned by the Charity Commission found that trust in charities had increased: the past 18 months have concentrated attention on how certain national institutions and prominent organisations have responded positively in a time of crisis ...
Despite the risk of ‘greenwashing’ and some calls for business to row back from ‘non-essential’ commitments to focus on the bottom line of shareholder return, surely on a small planet of limited and dwindling resources which is getting ever hotter, a focus on ESG remains the general direction of travel, and Planet and People continue to count, not just Profit ...
The Charities Bill has been a long time coming. More than ten years ago the Law Commission set out to undertake a targeted review of areas of charity law identified as causing uncertainty and carrying a disproportionate regulatory or administrative burden ...
A summary of the key takeaways from a recent webinar Charities legal and regulatory preview. "Prevention rather than cure: understand and embrace the quiet revolution in charity regulation" Not our words, but those of the Chief Executive of the Charity Commission back in April when she spoke of the potential of My Charity Commission Account being rolled out for all charity trustees ...
To mark Charity Fraud Awareness Week on 21 October Shoosmiths hosted a webinar with Jonathan Taylor, head of charities and care at Innovation Broking, entitled ‘Charity fraud and cybercrime: prevention and cure’. New figures show charities reported £8.6 million of lost funds in the last financial year and more than 1,000 incidents of fraud to Action Fraud, but the true scale of fraud against charities is believed to be much higher ...
The Charity Commission enjoys a range of protective powers under the Charities Act 2011. This note looks at the conditions that must be met before the Commission may exercise those powers, with a specific focus on the powers contained in s76 of the Act ...
Over 100,000 charitable bequests are made each year. However, every year, over £1 million is left to misnamed charities. This note explains the eight ways that personal representatives can work out who should receive an ambiguous charitable gift. The problem It is not unusual for a testator to misdescribe a charity in their will. The most common mistake is to try to leave money to ‘cancer research’ ...
Embezzlement and fraud within nonprofit organizations has reached epidemic proportions. According to the Association of Certified Fraud Examiner’s (2020) Global Study which contains an analysis of 2,504 cases of occupational fraud that were investigated between January 2018 and September 2019, 70 percent of frauds occurred in nonprofit organizations ...
The recent Winter Olympic Games and the conclusion of the Six Nations rugby were just two of many sporting events, large and small, that have been welcoming back fans (in accordance with local laws and restrictions) over the last several weeks. As we continue to live with COVID-19, it is crucial that organisers of sporting and other events are aware of health and safety requirements and their duty of care towards attendees ...
All charities face some risks. The risks your charity might face will depend on factors such as its size, funding and activities. Recently we considered managing those risk at our inaugural charity trustees roundtables ...
MP Dr Liam Fox provided his support to a draft bill recently placed before parliament focusing on individuals with Down’s Syndrome. He has been working on the bill with a Down’s Syndrome Association in Portsmouth. If the draft bill passes through parliament and receives royal assent, the Down’s Syndrome Act will come into force. Its focus is on improving provision for those with Down’s Syndrome which includes education, health, social care and employment ...
After the enactment last year of the Investment Law, a new "negative list" of investment fields closed or conditionally open for investments was issued by Presidential Regulation No.77 of 2007. This has been amended by Regulation No.111 of 2007 ...
To ascertain compliance with laws and regulations relating to excise, on 23 June 2008 the Minister of Finance issued Regulation No. 91/PMK.04/2008 regarding Excise Audits, to conduct excise audits on factories, warehouses, importers, distributors, and anyone who uses imported goods that have been granted an excise exemption. The regulation came into force on 15 August 2008. The form of the audit can be a general audit, special audit, or investigative audit ...
The Government of Jersey has published an update on the implementation of mandatory Energy Performance Certificates for Jersey in relation to commercial and residential property. The update confirms that the planned new legislation will establish a framework for Jersey Energy Performance Assessments (JEPA), which will be the Jersey equivalent to Energy Performance Certificates (EPCs). This name change is to ensure that it is clear the Jersey assessments differ from those in the UK ...
Recent bills in the U.S. House of Representatives and Senate demonstrate legislators’ concerns about several issues related to nonprofits, including: (1) admissions practices at institutions of higher education; (2) cross-border grantmaking by U.S ...
On November 27, 2021, our partners, associates and staff visited the New Life Orphanage in Kanchanaburi Province and hosted lunch and dinner for children at the center. The New Life Orphanage is a center that supports and cares for more than 70 resident children, many of whom were abandoned by their parents at birth ...
Legal networks allow independent firms to act as a unified group for better client service. Lawyer Sasha Stepanova was working just hours before Christmas to close a deal for a corporate client when a situation arose where she urgently needed a Dutch lawyer to review a new document. There was no time to spare. As a member of the World Services Group (WSG) law firm network, she called WSG member Johan Boeren directly in the Netherlands ...
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The partners and staff of Mamo TCV have made a donation to Jesuit Refugee Service (Europe) who are assisting those fleeing the war in Ukraine. JRS is an international Catholic organisation with a mission to accompany, serve and advocate for the rights of refugees and others who are forcibly displaced. This contribution is one of a number of initiatives that form part of Mamo TCV’s commitment towards creating a better society ...
Partner Dr Christine Calleja secured her position on the Council of the Malta Chamber of Advocates in the election held earlier this week. The Council’s responsibility involves the management and operation of the chamber over the forthcoming three-year period, extending until 2026. The Malta Chamber of Advocates functions as the official body representing warranted advocates who have been admitted to practice at the Bar of Malta ...
