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Charity Commission to investigate Royal Institution over office lease

15 Feb 2010 News

The Charity Commission is investigating the Royal Institution following reports that it has leased office space to a company run by its chairman without the regulator's permission.

The Charity Commission is investigating the Royal Institution following reports that it has leased office space to a company run by its chairman without legal permission.

According to The Guardian, the Royal Institution (RI) has been leasing space in its central London office to the private equity firm Ferranti Ltd, whose chief executive officer, Adrian Ferranti, also chairs RI.

But the deal has not been authorised by the Charity Commission.

The Commission confirmed it was looking into the matter. “We have asked the Royal Institution for further details of the arrangement in order to determine our role in the matter,” said a spokeswoman.

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