DPB (Investment Business) FAQs

• The Investment business levy is paid per principal by DPB (Investment Business) registered firms.
• The compensation scheme costs and levy is unchanged for 2017. The claims activity remains low and the compensation scheme reserve remains well funded. DPB compensation arrangements is the operation of the Chartered Accountants Compensation Scheme Limited operational cost.

A levy of £15 per principal is charged for each calendar year to cover the costs of the compensation scheme, and to provide a fund for potential claims.

The scheme can pay compensation up to a maximum of £50,000 to each claimant provided all available remedies against the practitioner have been exhausted.

We require confirmation from the DPB contact partner. Please email the Regulatory Support team at regulatorysupport@icaew.com and provide the following details:

• Firm name.
• C00 record number.
• Confirmation if the firm will continue to trade after the withdrawal of the licence.

We require confirmation from the audit compliance partner or DPB contact partner. Please email the Regulatory Support team at regulatorysupport@icaew.com.

• If the individual is not a member of a recognised body (ACCA,ICAS,CAI,ICAEW) they require regulatory affiliate status to mirror the firm’s registrations. Apply to become an affiliate.
• ACCA members in a firm that use the ‘Chartered Accountants’ description require general affiliate status. Apply to become an affiliate.

Under the Financial Services and Markets Act 2000, ICAEW has a compensation scheme for investment business activities carried out by its licensed firms. The Chartered Accountants’ Compensation Scheme Limited is a company owned jointly by ICAEW, ICAS and CAI. The institutes bear the costs of the scheme in proportion to the number of principals in licensed firms.