From 1st July the Council of Mortgage Lenders is integrated into a new trade association, UK Finance. For the time being, all UKF mortgage information will continue to be published on this website, and UKF member-only mortgage information will only be available here.

UK Finance represents around 300 firms in the UK providing credit, banking, markets and payment-related services. The new organisation takes on most of the activities previously carried out by the Asset Based Finance Association, the British Bankers’ Association, the Council of Mortgage Lenders, Financial Fraud Action UK, Payments UK and the UK Cards Association. Please go to for wider content and updates from UK Finance.

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  4. Call for input to the post-implementation review of the FCA’s crowdfunding rules

Call for input to the post-implementation review of the FCA’s crowdfunding rules

Last updated: 6 Sep 2016

Consulting body:
Financial Conduct Authority
Period of consultation:
Runs from 8 July 2016 to 8 September 2016
CML action:
Response submitted

In 2014, new rules came into force for the regulation of crowdfunding platforms operated by firms authorised by the Financial Conduct Authority (FCA).  In 2016 they published a post implementation call for input on whether these worked for the loan-based crowdfunding market. 

They proposed that Mortgage Conduct of Business (MCOB) rules will be applied to mortgage P2P platforms and individual investors would not be regulated if they are not acting by way of business. 

CML response

We are supportive of the FCA proposal that peer to peer (P2P) platforms providing funding for residential mortgages should be subject to the same regulations as residential mortgage lenders. Our full response can be downloaded below.