Insurance CEO banned for faking files in bid to buy football club
Blue Horizon Asset Management Ltd’s former chief executive has been banned from the financial industry after regulators found he falsified documents to secure funding for two high-profile acquisitions. The Financial Conduct Authority (FCA) concluded that Mr. Taylor acted dishonestly, repeatedly lying about his ownership of a bond portfolio worth approximately €200m while attempting to buy a UK bank and Reading Football Club.
Mr. Taylor made misleading statements on two separate occasions to advance his business interests. First, he tried to acquire a UK bank, where he falsified documents or arranged for them to be falsified to claim ownership of the bond portfolio. On a separate occasion, he pursued the acquisition of Reading Football Club, again falsely asserting that he owned the €200m assets to facilitate the deal.
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Ms. Toni, who was an executive director at the firm, knowingly assisted Mr. Taylor in these schemes. She provided misleading statements to the bank and helped falsify the documents. Both individuals understood that the statements and documents would be relied upon by the FCA and the Prudential Regulation Authority (PRA) as part of their assessment for the proposed acquisitions. During the company’s internal investigation, Ms. Toni denied providing the misleading statements and creating the false documents, but the FCA found these denials to be untrue.
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. They lied and lied again, first for commercial gain and then to cover their backs. They have no place in our industry.
The FCA determined that the actions were intended to mislead colleagues, counterparties, and regulators over an extended period. The regulator found that the pair breached Individual Conduct Rule 1, which requires individuals to act with integrity. Both Mr. Taylor and Ms. Toni agreed to resolve the matter with the regulator. They qualified for a 30% discount under the FCA’s settlement procedures, which applies when a firm admits to the findings before formal proceedings are issued.
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Mr. Taylor was a chief executive and executive director at Blue Horizon Asset Management Ltd between 14 February 2022 and 17 January 2025. Ms. Toni served as an executive director at the same company between 14 February 2022 and 16 December 2025. Had they not accepted the settlement, the financial penalties would have been higher. Without the discount, Mr. Taylor faced a penalty of £698,600, while Ms. Toni faced £173,100.
The FCA has banned Mr. Taylor and Ms. Toni from performing any function in relation to regulated activities, having concluded that they are not fit and proper persons. This prohibition means they can no longer work in senior roles within the financial sector. The FCA has the power to impose financial penalties under section 66 of the Financial Services and Markets Act 2000 and to prohibit individuals under section 56 of that act.
