Prepared For The Foundation Board? Recent Legal Changes And Their Implications

Key Take-aways

1. The various supervisory authorities construe the scope of disclosure requirements differently.

2. Given the anti-money laundering regu- lations and in case of doubt, one should clarify the origin of donations.

3. Failure to comply with the new data-pro- tection provisions may result in sanc- tions, including personal liability for the foundation board.

1 Introduction

The requirements for foundation board members have steadily increased over the last few years and the legal framework is constantly evolving. This newsletter provides an overview of some important legal changes and the associated obligations that every foundation board should familiarise themselves with.