The IoFs chief executive, Peter Lewis, has said it was time to re-assess the public's experience of 'chugging'.
There is growing concern that for every donor recruited by chuggers, many more are put off, he added.
Charities will now look at introducing a 'kite-marked' training scheme for all street fundraisers, to ensure the highest standards are met.
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His mother Princess Diana was killed in a car crash in Paris in 1997 when he was just 12 and his brother William was 15.
The 21-year-old, who was arrested on Sunday, also allegedly injured two other people in the attack in the German city of Reutlingen.