Regulator disbands Alzheimer’s charity

The Alzheimer’s Association has in effect been wound up by its
regulator, the Financial Services Authority.

The move, announced this week, follows the association’s suspension
from the FSA for three months in February.

It had now requested to be permanently removed from its register,
the FSA said, adding that the association’s business “was not being
conducted for the benefit of the community”.

The association was understood to have links with the discredited
and now defunct Alzheimer’s Foundation.

The foundation was taken over by the Charity Commission in January
2003 after an investigation found it had spent just £65,000 of
£550,000 raised for charitable causes.

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