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 www.ukfinance.org.uk for wider content and updates from UK Finance.

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  4. FCA Quarterly Consultation, December 2016

FCA Quarterly Consultation, December 2016

Last updated: 2 Feb 2017

Consulting body:
Financial Conduct Authority
Status:
Closed
Period of consultation:
Runs from 2 December 2016 to 2 February 2017
CML action:
Response submitted

The Financial Conduct Authority have proposed a change to the Training and Competence sourcebook qualifications time limit.

They are extending the time within which firms must ensure employees attain an appropriate qualification from 30 to 48 months of starting to carry on that activity, which we believe to be a sensible proposal.

CML response

We have no comment on the proposal to update the appropriate qualification listing or the proposed update to the Glossary definition for accredited bodies. (Q7.1)

Mortgage lenders welcome the proposal to extend the time within which firms must ensure employees attain an appropriate qualification from 30 to 48 months of starting to carry on that activity. (Q 7.2)

See the CML response to this consultation below.