The Financial Services Compensation Scheme (FSCS) declared Taylor and Taylor Associates Ltd, of Norwich, in default on 27th November 2015
Taylor and Taylor Associates Ltd was run by brothers Alan and Ross Taylor, who were sentenced on 3 May 2018 to six and five years respectively for a £17 millio fraud*. ("Citywire 16/11/2018)
The brothers funded a lavish lifestyle, which included cars, private jet hire, a private boat and a £1 million Norfolk house. The advice firm was run alongside a connected investment scheme, Vantage Investment Group.*
Financial Conduct Authority (FCA) banned the Taylor brothers from performing 'any regulated activity carried on by any authorised person, exempt person or exempt professional firm.
The FCA decision notice said the pair's 'conduct demonstrates a clear and serious lack of honesty, integrity and reputation'.*
The FSCS bill for Taylor and Taylor has risen to t £2.75 million across 131 Sipp-related claims, while unregulated collective investment scheme (Ucis) claims account for £840,000 and investment bonds for £725,000.*
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