October 25 2014 Latest news:
By Chris Bishop
Friday, July 18, 2014
The watchdog said it had opened a “statutory inquiry” into Hunstanton-based FAN.
The charity, which registered in 2010, was set up to support neuroblastoma sufferers and their families.
In a statement, the commission said: “The regulator is investigating a number of concerns but its focus is a lack of a proper governance structure at the charity, and as a result the risks that may arise to the charity’s funds or other property.”
It added the inquiry would examine the financial management of the charity, how funds raised for it are accounted for and whether trustees have complied with their legal duties and responsibilities.
“In order to protect the charity’s funds and/or other property, the commission froze the charity’s bank accounts,” it adds.
“The regulator then appointed two individuals from Baker Tilly Restructuring and Recovery LLP as interim managers on July 15, to take control of the charity and its assets to the exclusion of the existing trustees, enabling the charity to continue to operate as normal and beneficiaries to access the funds raised by their appeals in case of need.”
The commission said a report would be published once it had completed its inquiry. Calls to FAN’s office in Hunstanton were being directed to the interim managers.
A spokesman for Baker Tilly said: “There are two partners who have been appointed as interim managers. Their role has been to secure the charity’s funds and take control of the day-to-day running of the charity, assisted by the charity’s remaining staff.”
He added the charity would be operating as normal and those in need of funds would receive them.