01 · In plain English
What happened.
The FCA fined Esmeralda Toni £121,200 and issued a prohibition after finding she breached Individual Conduct Rule 1 (COCON 2.2.1R) by failing to act with integrity in the wholesale broking sector. The FCA found Toni knowingly assisted Blue Horizon’s then-CEO in creating false documents and misleading statements — including claims about ownership of a €200m bond portfolio — while pursuing attempted acquisitions of a UK bank and Reading Football Club. The conduct took place while she was an executive director at Blue Horizon (Feb 2022–Dec 2025); she agreed to settle the matter and qualified for a 30% discount under FCA procedures (without the discount the penalty would have been £173,100).
Summary generated from the FCA notice and press reports. Check the final notice below before relying on it.
02 · Enforcement details
What the FCA published.
On 12 August 2026, the Financial Conduct Authority fined Esmeralda Toni £121,200. This Final Notice refers to breaches of Individual Conduct Rule 1 (COCON 2.2.1R) relating to failing to act with integrity in the wholesale broking sector. We imposed a financial penalty and a prohibition order. Source: the FCA's published list of 2026 fines. Notice:
03 · Press coverage
How it was reported.
- UK regulator bans, fines former Blue Horizon executives for false statementsReuters · 14 Aug 2026
- CEO banned for false and misleading statements made in attempt to buy bank and football clubFinancial Conduct Authority · 21 Jul 2026
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