FIA Foundation Under UK Charity Commission Investigation Amid Independence Concerns
London, UK – The FIA Foundation, a prominent road safety charity with approximately €500 million in assets, is currently the subject of an official inquiry by the UK’s Charity Commission. The investigation stems from concerns raised by former NATO Secretary General and ex-FIA Foundation Chairman,Baron George Robertson of Port Ellen,regarding potential compromises to the institution’s independence following the appointment of FIA President Mohammed Ben Sulayem as its chairman.
The Charity Commission, the regulatory body for charities in England and Wales, has issued a temporary protective order. This order restricts the FIA Foundation and its trustees from executing specific financial transactions without prior written approval from the Commission, ensuring a degree of oversight during the inquiry.
Baron Robertson voiced his concerns to the Commission, stating that recent changes were “compromising that degree of independence that had been guaranteed by the statutes.” He emphasized the FIA Foundation’s critical role in global road safety initiatives, highlighting that its effectiveness hinges on its autonomy from the Fédération Internationale de l’Automobile (FIA), the governing body for motorsport.”Its strength is based on its independence from the FIA itself,” Robertson stated, adding that any erosion of this independence could significantly diminish the charity’s impact.
The FIA Foundation acknowledged the Commission’s engagement, clarifying that the regulatory review does not constitute a finding of wrongdoing. A spokesperson for the Foundation affirmed the trustees’ confidence in the organization’s proper management and pledged full cooperation with the Commission to expedite a resolution.
The FIA itself maintains that the FIA Foundation operates independently, governed by its own trustees and adhering to its established articles of association.
Established by the late former FIA President max Mosley, the FIA Foundation was initially funded by ample payments from Formula One Management, then under the leadership of Bernie Ecclestone, related to the long-term commercial rights to Formula 1. The initial investment of $313.2 million, securing rights through 2110, has been strategically grown through subsequent investments.
The Charity Commission’s inquiry will specifically focus on the relationship between the FIA Foundation and the FIA, assessing whether any conflicts of interest have been adequately identified and managed, particularly concerning the allocation of charitable grants. Furthermore, the investigation will evaluate the security of the charity’s assets and take necessary steps to protect them.The Commission has reserved the right to broaden the scope of the inquiry should additional regulatory issues arise.
The current situation follows the recent removal of David Richards, head of MotorsportUK, from the position of FIA Foundation Chairman last October. Subsequent to Richards’ departure, both the Foundation’s Chief Executive Officer, Saul Billingsley, and Company Secretary, Jayne pearce, were also dismissed.
this investigation underscores the importance of maintaining the independence of charitable organizations, as enshrined in the UK’s Charities Act 2011, which mandates that trustees operate without undue influence or conflicts of interest. The outcome of the inquiry will be closely watched by stakeholders in the road safety sector and will likely have implications for the governance of similar organizations reliant on funding from affiliated bodies.
Keywords: FIA Foundation, Charity Commission, Road Safety, Mohammed Ben Sulayem, George Robertson, Charity Inquiry, FIA, UK Charities, Nonprofit Governance, Conflict of Interest, Financial Regulation.
