UK Regulator Has Launched Investigation into Charity Linked to FTX

The Charity Commission, the UK regulator responsible for supervising registered charities, has begun investigating the Effective Ventures Foundation, a charitable organization related to FTX. FTX’s charitable foundation is an important funder of the charity. The investigation will focus on the degree of risk of the charity’s assets and The extent to which trustees comply with their legal obligations to safeguard the charity's property; the trustee's governance and management of the charity, including the relationship between the charity's trustees and their funders and the identification and management of conflicts of interest or loyalties. If other regulatory concerns arise, regulators could expand the probe.