CIC Association

Serving Community Enterprise

will regulator start to enforce restrictions on CIC activities after next election?

given the Conservative's recent statement that if elected they want to see the 'third sector' doing less campaigning and lobbying, I was wondering if people felt that the regulator might be strating to take a closer view at the activities of CICs

 

under the CIC legislation, a CIC is prohibited from engaging in any political lobbying, campiagning. activity, etc where it is targeted at specific political parties - but to date the regulator has said they'll be light touch in enforcing compliance

 

but given the Tory line on trying to get us to cut back on lobbying legislation, policies, etc that dictate the environment we operate within, will the regulator start to 'crack down'?

 

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I heard that cics could be completely pushed into being viewed as phylanthropy only and not businesses. I have owned a cic for a short time now and am worried that people wont take cics seriously after an election. Or would it mean a better tax break for investors? Does any one know what will happen to cics?
Looking at what is going on in the CIC world right will the regulator have time to 'crack down'?
good question - looking at the wider lanscape, all regulatory bodies are being asked to do more with less, and in some cases even disbanded (FSA);

one of the key selling points of any legal form is the safeguards it can offer due to the monitoring and enforcement of its regulatory body in individual or 'rogue' enterprises and groups, but if the CIC regulator is increasingly unable to monitor indvidual CICs via their returns, etc from exploitation and subversion then how credible will this form be if it becomes apparent that its not being managed/protected properly?
I agree, one of the things that worriy me is that a few rouge CIC's are set up and the publisity could distroy the whole CIC system.

As an Association we need to make sure we tell the regulator our concerns in this area. The enforcement is central and to protect all of us.

Another area I am surprised at is how quick it is to setup. A week to do any checks surly they should be doing more the rubber stamp the paperwork.
The regulations will definitely have to grow as the community does, the one key element is is the transparency of CICs, public scrutiny is one of the strongest controls there is and its built into the system, so medium term it should actually provide confidence.

The exclusions for political purposes are very practical in real terms, you know what that lot can do with a system! .....................bend it, shape it, twist it just a little...... :-)

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