FCA charges individual over unauthorised mortgage broking
Mortgage firms must verify FCA authorisation before regulated mortgage arranging
Change
The FCA charged Shaun Lawrence with allegedly arranging regulated mortgage contracts without authorisation while banned from financial services.
Why it matters
The charge turns unauthorised mortgage arranging into a live criminal-enforcement control issue. Mortgage firms, intermediary networks and introducer arrangements must verify FCA authorisation, permission scope and prohibition status before allowing anyone to arrange regulated mortgage contracts.
Implications
- — Mortgage-broking firms must verify FCA authorisation and permission scope before allowing individuals to arrange regulated mortgage contracts.
- — Mortgage intermediary compliance teams must screen banned or previously authorised individuals before appointment, referral handling or customer-facing activity.
- — Appointed representative and introducer networks must define role boundaries before referrals because arranging regulated mortgage contracts requires FCA permission.
Who is affected
- — Mortgage-broking firms
- — Mortgage intermediary compliance teams
- — Appointed representative networks
- — Introducer networks handling mortgage referrals
What to watch
- — FCA charge date: April 30, 2026
- — Court date: July 2, 2026
- — Legal basis: Section 19 of the Financial Services and Markets Act
- — Control point: FCA authorisation, permission scope and prohibition-status checks