• Chapter 1 - The Firm And Its Licence
  • Chapter 2 - The Regulatory Framework
  • Chapter 3 - Critical Procedures
  • Chapter 4 - Whole Firm Procedures
  • Chapter 5 - Referring Work To Permitted Third Parties
  • Chapter 6 - Advising and Arranging Deals
  • Chapter 7 - Corporate Finance Activities
  • Chapter 8 - Trusteeships And Powers Of Attorney
  • Chapter 9 - The DPB Contact Partner
  • Chapter 10 - Guidance On Home Finance Business Activities
  • Chapter 11 - General Insurance
  • Chapter 12 - Distance Marketing Regulations
  • Chapter 13 - Guidance On Professional Services In Relation To HMRC Investigations
  • Chapter 13A – Consumer Credit
  • Chapter 14 - Specimen Documents

Latest Updates to the DPB Compliance Manual

 

Date Updated Version  Why Updated? Track Changes Version

November 2018 Chapter 1 Section 1.1 Using the Manual Text amended to reflect update of the manual for the Insurance Distribution Directive and ICAEW Update 12. 

Chapter 1 Section 1.1 - track change
  Chapter 2 Section 2.2.3 Exempt Regulated Activities Prohibition on undertaking any regulated activity in relation to insurance-based investment products or products related to large risks added to this section.

Chapter 2 Section 2.2.3 - track change
  Chapter 2 Section 2.4.1 The DPB Handbook 

Minor changes to make reference to insurance distribution rather than insurance mediation.

Note. Where this is the only change made to subsequent sections it has not been listed separately. 

Chapter 2 Section 2.4.1 - track change
  Chapter 3 Section 3.2.5 Conditions Applicable to Exempt Regulated Activities Guidance on new rule 4.15b in the Handbook concerning disclosure of the nature of all remuneration including the firm’s share of insurance premiums.

Chapter 3 Section 3.2.5 - track change 
  Chapter 4 Section 4.1 Whole Firm Procedures
A number of minor conforming amendments. Chapter 4 Section 4.1 - track change 

  Chapter 4 Section 4.2.1 Complaints  Amendment to the procedure for dealing with complaints to require a written acknowledge of receipt be sent.

Chapter 4 Section 4.2.1 - track change 
  Chapter 4 Section 4.3 Engagement Terms   Amendments to engagement terms concerning the firm’s status and reference to insurance distribution instead of insurance mediation.

Chapter 4 Section 4.3 - track change 
  Chapter 4 Section 4.6 Insurance  Amendment to the minimum PI insurance required in respect of insurance distribution.

Chapter 4 Section 4.6 - track change
  Chapter 5 Section 5.1 Referring Work to Permitted Third Parties New section 5.1.2 explaining the prohibition on making referrals that are regulated activity in respect of insurance-based investment products or products relating to large risks. 

Chapter 5 Section 5.1 - track change 
  Chapter 5 Section 5.5 Commission and other Benefits including Fee Sharing

Section 5.5.1 updated for changes to the guidance on accounting for commissions.

 

New section 5.5.3 explaining the new requirements of the Insurance Distribution Directive where a firm retains a share of an insurance premium (typically in respect of fee protection insurance). 

Chapter 5 Section 5.5 - track change 
  Chapter 6 Section 6.1.1 Advising The guidance on mainstream advice updated concerning the prohibition in respect of insurance-based investment products or products relating to large risks. 

Chapter 6 Section 6.1.1 - track change 
  Chapter 11 Section 11.2 Insurance Distribution Reference added to the prohibition in respect of insurance-based investment products or products relating to large risks.

Chapter 11 Section 11.2 - track change 
  Chapter 11 Section 11.3 Minimum Level Of Professional Indemnity Insurance  Amendment to the minimum PI insurance required in respect of insurance distribution.

Chapter 11 Section 11.3 - track change 
  Chapter 11 Section 11.7 Standardised Insurance Product Information Document (IPID)  New section added concerning the new requirement in the Insurance Distribution Directive to provide a standardised insurance product information document (IPID). 

Chapter 11 Section 11.7 - track change 
  Chapter 14 Section 14.4.4 Complaint Form  Field added to specimen compliant form to record that an acknowledgement was sent. 

Chapter 14 Section 14.4.4 - track change 
  Chapter 14 Section 14.4.5 Complaint Control Sheet  Column added to specimen compliant summary to record that an acknowledgement was sent. 

Chapter 14 Section 14.4.5 - track change 
  Chapter 14 Section 14.11.1 DPB Handbook   Amended to provide a download of the ICAEW DPB (Investment Business) Handbook that applies from October 2018 and a link to the previous version. NA
       
September 2018 Section 1.1.1 Changes to the DPB regime that apply from 1 October 2018

Explanation of changes to the DPB regime that apply from 1 October 2018 as a result of implementation of the Insurance Distribution Directive.

NEW SECTION 
       
February 2018  Chapter 13A - Consumer Credit General update of section 13A to give more detailed guidance on applying the content of the Consumer Credit Handbook  NA 
       
February 2016  Chapter 13A - Consumer Credit  New Chapter NA
       
August 2015
Chapter 1 - Section 1.4.2 - Activities New section added on Pensions and Auto Enrolment
Chapter 1 - track change
  Chapter 2 - Section 2.1.6 - Pensions and Auto Enrolment New section added on Pensions and Auto Enrolment  Chapter 2 - track change
  Chapter 3 -  Section 3.1 - Restrictions on Regulated Activity Reference added to ICAEW annual return
Chapter 3 - track change
  Chapter 3 - Section 3.2.5 - Commission or Other Benefits Section updated for FCA retail distribution review  Chapter 3 - track change
  Chapter 4 - Section 4.1.3 - Money Laundering
Chapter 4 - Section 4.1.4 - CPD
Reference added to the Bribery Act
Chapter 4 - track change
  Chapter 5 - Section 5.1 - Referring Work to Permitted Third Parties New section 5.1 giving guidance on independent and restricted advisors  Chapter 5 - track change
  Chapter 5 - Section 5.5 - Commission and Other Benefits Including Fee Sharing Section on commission updated to address fee sharing and other benefits  Chapter 5 - track change
  Chapter 7 - Section 7.5 - Financial Promotion Reference added to ICAEW Corporate Finance Faculty guidance  Chapter 7.5- track change
  Chapter 7 - Section 7.7 - Corporate Finance Faculty of The ICAEW   List of available guidance from ICAEW Corporate Finance Faculty updated  Chapter 7.7 - track change
  Chapter 9 - Section 9.2 - DPB Compliance Review Title amended to make clear that addressing DPB requirements  Chapter 9 - track change
  Chapter 10 - Section 10.4 - What Are Firms Allowed To Do Under The DPB Licence? Reference to specific guidance on mortgage advice added  Chapter 10 - track change 
  Specimen letter 14.5.7 - Specimen commission/share of fees disclosure letter (excluded activities) Specimen letter amended to address share of fees and other benefits  Specimen letter 14.5.7  - track change 
       
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