Charity Commission acknowledges flaws in draft CC14 guidance

Governance | Vibeka Mair | 16 Mar 2011

Rosie Chapman, director of policy at the Charity Commission has said that the Commission will place greater emphasis on pooled funds and cash deposits in its new guidance on investment.

Chapman announced the news at the Charity Investment Forum last week, where she spoke on the Commission’s consultation on CC14.

The Commission had received around 60 views to its new draft guidance on investment, Chapman said. Many felt that the Commission had not paid enough attention to finance typically used by small charities, such as pooled funds schemes and cash.

Further, some respondents were unhappy that the Commission had not “set in stone” that the investment that recieved the best returns was “right.”

Chapman also said the Commission would strive to ensure it was clear when the guidance was speaking about legal requirements or best practice, after some consultation respondents warned that some guidance could be taken literally by trustees.

Social investment

Some respondents felt it was confusing that investments and programme related activity were in the same piece of guidance, while some in the social investment community felt that the Charity Commission should have used the guidance as an opportunity to actively promote social investment as a solution to the challenges facing charities.

However, Chapman said this was not the Charity Commission’s role:

“Our job is to set out the legal framework and risks,” she said.

The Charity Commission is working on a summary report to address respondents.

Directory: Charity Commission
Who's Who: Rosie Chapman

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