A pair of former executives at fund manager Blue Horizon Asset Management are being sanctioned by the U.K.’s Financial Conduct Authority (FCA) amid allegations that they made false statements in a pair of negotiations — the proposed acquisition of a bank and an effort to acquire a soccer team.
In a pair of enforcement settlements, the FCA banned Paul Taylor, former CEO of Blue Horizon, and Esmeralda Toni, a former managing director at the firm, from working in financial services. It also fined Taylor 489,000 and fined Toni 121,200.
According to the regulator’s orders, between December 2023 and October 2024, Taylor made false statements during negotiations in connection with a pair of proposed acquisitions.
Specifically, the FCA alleged that Taylor claimed to be the owner of a 200-million bond portfolio — first during negotiations to acquire a bank, and later in separate talks to buy Reading FC — and prepared falsified documents to support those claims.
The FCA said that Toni assisted Taylor by making misleading statements to the bank, and helping to prepare the falsified documents.
“Trust in financial services relies on those working in it to be honest. Mr Taylor and Ms Toni fell woefully short of even this minimum expectation,” said Therese Chambers, joint executive director of enforcement and market oversight at the FCA, in a release. “They lied and lied again, first for commercial gain and then to cover their backs. They have no place in our industry.”
By settling the...
A pair of former executives at fund manager Blue Horizon Asset Management are being sanctioned by the U.K.’s Financial Conduct Authority (FCA) amid allegations that they made false statements in a...