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ICAEW DPB (Investment Business) licensed firms are required to comply with the DPB (Investment Business) Handbook and be monitored to ensure your firm is operating within the scope and eligibility criteria of your licence.

DPB (Investment Business) Handbook

ICAEW DPB (Investment Business) firms are required to comply with the DPB (Investment Business) Handbook. This Handbook provides full details of ICAEW's licensing arrangements. This includes:

  • the agreement between the firm and ICAEW for a licence;
  • the regulated activities that can be conducted under a licence; and
  • how regulated work should be conducted.

Your DPB (Investment Business) monitoring review

We monitor all DPB (Investment Business) firms to ensure you are operating within the scope and eligibility criteria of your licence and check you have appropriate quality control procedures to identify and carry out exempt regulated activities (ERAs) in accordance with your DPB (Investment Business) licence.

Access the Guide to monitoring reviews for DPB (Investment Business) licensed firms. This guide is full of practical information on the areas we often find firms need clarity about during our quality assurance monitoring reviews.

Firms licensed for DPB (Investment Business) activities usually receive a combined Practice Assurance and DPB (Investment Business) visit including a review of compliance with the DPB (Investment Business) Handbook and a review of how the firm meets the principles-based Practice Assurance standards. The results of monitoring visits are reported to the Investment Business Committee.

Findings from monitoring reviews

Access our infographics that highlight findings reported after monitoring reviews conducted by ICAEW. Read what DPB (Investment Business) Handbook regulatory breaches were recorded and what resources are recommended to avoid them.

Annual return

All firms licensed by ICAEW to undertake exempt-regulated investment business activities are required to complete an annual return.

Staying compliant

Investment business is a complex area. We’ve put together some resources to help you stay compliant.

This guide will help firms identify whether a DPB (Investment Business) licence or FCA authorisation is needed to undertake a particular investment activity or whether this can be done without any authorisation under the Financial Services and Markets Act 2000 (the Act).

If you're managing a practice, please access our practice resources. You will also need to comply with regulations covering areas such as PII, clients' money and anti-money laundering. Find out more.

Changes in firm structure – please tell us within 10 business days

It’s important to maintain your firm record accurately. An inaccurate or out of date firm record may constitute a misdescription of your firm. It could also lead to regulatory or disciplinary action.