Regulator concludes investigation into 4 charities as class inquiry continues

In May 2025, the Commission launched a statutory class inquiry after 105 charities were found to have issued cheques that were then exchanged for cash to a value of £22 million between December 2021 and March 2023. Charities have entered the inquiry in tranches.

The Charity Commission has today (9th September 2026) confirmed it has concluded its investigation into four charities that were part of a statutory class inquiry. These are: The Z.S.V. Trust, Bnois Jerusalem Schools, Forty Limited and Friends Of Yeshiva Daas Sholem Shotz,

The Commission found evidence that all four charities issued open cheques between December 2021 and March 2023. Over the course of its investigation, the Commission was satisfied that each charity was undertaking charitable activities in line with their charitable purposes. However, the regulator has made a finding of misconduct and/or mismanagement in all four cases as the use of blank or open cheques is high risk and lacks the effective oversight of charitable spending that the regulator would expect from trustees.

Since opening the investigation, all four charities have confirmed to the Commission that blank or open cheques are no longer used. The regulator has issued those charities that are still operating with a Regulatory Action Plan to address governance weaknesses and make improvements to their internal financial controls. Trustees have also been given regulatory advice and guidance to help them to improve how their charity is run.

As part of its inquiry, the Commission has exchanged information with other government departments.

Before the inquiry opened, Friends of Yeshiva Daas Sholem Shotz appointed a whole new trustee board who determined the charity could not operate. As such, the regulator, after engaging with trustees, helped them to wind up the charity. It has since been removed from the public register. The regulator provided the trustees with advice and guidance to help them understand their responsibilities should they apply to be a trustee of another charity in the future.

The Commission has now concluded its engagement with these charities. Its statutory class inquiry, which several other charities remain a part of, is ongoing while the regulator continues to examine the evidence and consider the appropriate action or response. It is the Commission's usual policy, after it has concluded an inquiry, to publish a report detailing the issues examined, any action taken, and the inquiry's outcomes.

The full inquiry report into the four charities can be found on gov.uk.

Notes to editors:

1. The Charity Commission is the independent, non-ministerial government department that registers and regulates charities in England and Wales. Its ambition is to be an expert regulator that is fair, balanced, and independent so that charity can thrive. This ambition will help to create and sustain an environment where charities further build public trust and ultimately fulfil their essential role in enhancing lives and strengthening society. Read further information about what the Commission does.
2. Blank cheques are those that are signed but the payee and amount is left blank. Open cheques are those that are signed and a value added but the is payee left blank.
3. The Commission launched the statutory class inquiry in May 2025, see here for details including the scope of the inquiry. Serious concerns over use of £22 million triggers investigation by charity regulator - GOV.UK.
4. A statutory inquiry is a legal power enabling the Commission to formally investigate matters of regulatory concern within a charity or class of charities and to use protective powers to protect a charity and its beneficiaries, assets, or reputation. The opening of the inquiry is not a finding of wrongdoing.