The FCA has started criminal proceedings against Anthony Hay, Laura Hay, Tim Stewart, Premier Finance GB Ltd and Proserv GBR Limited, for allegedly engaging in unauthorised business.  Anthony Hay, Laura Hay and Tim Stewart are jointly charged for their involvement in the conduct of two Bristol firms, Premier Finance GB Ltd and Proserv GBR Limited, in relation to high-end luxury vacuum cleaners retailing for up to £3,000. Between 1 April 2014 and 31 March 2023, the firms are alleged to have generated at least £4m from unlawful business activities involving thousands of customers.  The individuals are accused of engaging in regulated credit agreements, hire agreements and contracts of insurance (service packages and callout covers) for vacuum cleaners, when they were not authorised by the FCA to do so. The firms also collected money from credit and hire customers without FCA authorisation. Anthony and Laura Hay served as directors of the companies and Tim Stewart was the compliance manager at both companies. The defendants will appear before Westminster Magistrates’ Court on 7 November 2024.  Notes to editors Anthony Hay’s DoB (date of birth) is 4 June 1968. Laura Hay’s DoB is 3 May 1979. Tim Stewart’s DoB is 20 October 1985. The FCA is prosecuting the above firms and individuals for breaches of section 23(1) of the Financial Services and Markets Act 2000 (FSMA) namely by carrying out debt administration and debt collection, entering into regulated credit agreements and hire agreements, and effecting and carrying out contracts of insurance with retail customers for vacuum cleaners, whilst not being authorised.  The FCA is also prosecuting Mr Hay, Ms Hay and Mr Stewart as company officers under section 400 of FSMA, in that they consented, connived or neglected to act in relation to the firms’ misconduct. Carrying out unauthorised business is an offence punishable by a fine and/or up to two years’ imprisonment. Find out more information about the FCA.