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DPB Update Issue 12 - August 2018

The revised DPB (Investment Business) Handbook that applies from 1 October 2018 has been approved by the FCA and is now available on the ICAEW website. This update seeks to identify the main implications of changes to the handbook for all DPB licensed firms.

The handbook is being changed to implement the Insurance Distribution Directive (IDD) and enable DPB licensed firms to continue to offer common products such as tax fee protection insurance.

We have chosen to implement the IDD via the ancillary insurance intermediary (AII) route. Using the AII route meant that the changes needed were less extensive and the impact on DPB licensed firms less onerous. An AII may only distribute complementary insurance products whose cover complements the good or service being provided.