The Financial Conduct Authority (FCA) has charged Shaun Lawrence for allegedly operating as a mortgage broker without the necessary authorisation.
According to the FCA, Mr Lawrence, who is also known as Shaun Lawrence-Bright and Shaun Bright, was previously authorised to provide mortgage advice. In 2008, his permissions were revoked and he was fined. At that time, he was also banned from working in a regulated role within financial services.
The FCA now alleges that Mr Lawrence breached the Financial Services and Markets Act (FSMA) by continuing to provide mortgage broking services despite this ban. The regulator claims that he carried on regulated activities without FCA authorisation, contrary to Section 19 of FSMA.
Alleged breach of regulated activities rules
The alleged regulated activity involved is set out under Article 25A of the Regulated Activities Order, relating to arranging regulated mortgage contracts. The FCA contends that Mr Lawrence engaged in this regulated activity while lacking the required authorisation, in breach of the general prohibition contained in FSMA.
The case focuses on whether Mr Lawrence continued to arrange regulated mortgage contracts after his permissions had been revoked and after he had been banned from working in a regulated role within financial services. The FCA's charges centre on this alleged continuation of activity in the absence of appropriate authorisation.
Court appearance scheduled
Mr Lawrence is due to appear before Hull Magistrates' Court on 2 July 2026 to face the charges. The proceedings will address the FCA's allegations that he operated as a mortgage broker in contravention of Section 19 of FSMA and Article 25A of the Regulated Activities Order.
The outcome of the court hearing will determine whether Mr Lawrence is found to have breached FSMA by arranging regulated mortgage contracts without FCA authorisation after his ban from regulated financial services roles.
