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You are here: Compliance  >  Investment Business Reviews

Investment Business Compliance Reviews

Our investment business services can help to improve the compliance and profitability of your investment business work, regardless of whether you are a DPB or FCA registered firm.

The investment business regulations require those firms that actively advise on investment business (previously ICAEW categories C and D, and ACCA category 2) to be regulated by the FCA. Those firms who were previously ICAEW category A & B and ACCA category 2 are now regulated through their Designated Professional Bodies (DPB). However, the penalties for non-compliance will be much more severe — breaking the rules will be a criminal offence!

The Chartered Institute’s DPB Handbook requires those firms with a DPB licence to monitor compliance with the regulations at least once a year (Certified firms would also be advised to carry out such reviews). This annual review needs to be evidenced in writing and the QAD annual return refers to this annual review, requiring specific information about it. The review is designed to review the firm’s investment business procedures and provide a report, which meets the requirements for the annual investment business compliance review and may be used when completing the annual return without an additional compliance review being performed by the firm.

Specifically, this type of review includes:

  • a review of invoices raised to identify potential investment business work;
  • a review of commissions received to ensure correct disclosure and consent has been obtained;
  • a check on compliance with the non-investment business and investment business Client Money Regulations;
  • a check on compliance with the regulations relating to letterheads, brochures etc…
  • a review of corporate finance advice;
  • a review of powers of attorney and trusteeships;
  • a review of internal procedures, training and CPD, if appropriate; and
  • a review of any permitted third party arrangements (for those with a DPB licence).

Firms authorised by the Financial Conduct Authority (FCA) have to comply with a much more stringent regulatory regime which requires considerably more evidence of compliance. We can also undertake annual FCA compliance reviews, although these will take at least two days per office.

We can also provide investment business pre-regulatory reviews. The purpose of this visit is to undertake a dummy QAD review to identify any issues that still need to be addressed before the real visit. A similar review may be carried out prior to a review by the FCA, for authorised firms.

Why choose SWAT UK to undertake the review?

  • Following your review, you will be provided with a full written report, detailing our findings as well as any action points and/or recommendations arising from the review.
  • During the review, we’ll endeavour to identify ways to help your practice run more efficiently, help to cut down on unnecessary time and costs, and therefore improve your profitability.
  • Our in-house team of technical consultants have vast and valuable experience gained from working in practice and visiting many client firms.


Call 0845 450 5555 for more details and to arrange a review.