1. DPB – what does it mean for me?

2. What is DPB?
DPB = Designated Professional Body ICAEW may grant a DPB licence to firms who carry out certain investment activities

3. What is investment business?
not easy to define
what is the product and what is the activity?
DPB Handbook – Schedule 9 of Part 3
icaew.com/financialservices

4. Boundary issues DPB handbook
Unregulated activities – Schedule 4 of Part 3
Exempt regulated activities (or NMRA) – Schedule 2 of Part 3
Mainstream regulated activities – Schedule 1 of Part 3

5. Examples of unregulated activities
Tax advisory work involving generic investment advice
Advising on availability of grants and helping with applications
Forecasts to support a loan application
Valuations
Providing a reference for mortgage application
Obtaining an unsecured overdraft

6. Examples of exempt regulated activities
Introducing to permitted third parties
Assisting in the administration and performance of a contract of insurance
Advising
Dealing in investments as agent for a client
Safeguarding and administration

7. Can my firm apply for a DPB licence?
Eligibility
Incidental and complementary services
PII
Insurance mediation - €1,120,200 per claim, €1,680,300 in total

8. Introductions to third parties
The introduction
How is the introduction made?
What is the introduction for?
Who is the introduction to?

9. Introductions to third parties
Introductory commission or fees
Unregulated activity – Code of Ethics section 240.7
Regulated activity – DPB Handbook rule 4.15
Account to the client
Obtain consent to retain
Treat as clients’ money until the client has given written consent

10. Fee protection insurance
The firm is insured for its clients
The firm offers insurance to clients
The firm self-insures

11. Fee protection insurance
Is the advice on the basis of a fair analysis
Para 4.16
Suitable for client’s demands and needs
Para 4.17
Provide a written demands and needs statement
Para 4.18

12. Corporate finance Sale of body corporate exclusion
More than 50% shareholding
Acquisition or disposal of day to day control
Schedule 5 of Part 3 of the DPB Handbook

13. Status and other disclosures
Schedule 1 to Part 4 of DPB Handbook
Name and address of the firm
Not authorised by the Financial Services Authority
Nature of ERA and limited in scope
Firm is licensed by ICAEW
Insurance mediation activities Schedule 1 to Part 4 para 4.03b
Complaints procedure
Compensation arrangements

14. Investment business compliance review
DPB annual compliance review
icaew.com/helpsheets

15. Where can I get help? icaew.com/financialservices
DPB helpline +44 (0)
Financial Services Faculty (icaew.com/fsf)
Helpsheets (icaew.com/helpsheets)