Publicly available records provided by the Securities and Exchange Commission (SEC) indicate that administrative proceedings were recently brought against broker/investment advisor, George L. Taylor (CRD # 1104198) pursuant to Section 15(b) of the Securities Exchange Act of 1934 (“Exchange Act”) and Section 203(f) of the Investment Advisers Act of 1940 (“Advisers Act”). Specifically, on July 14, 2020, the SEC issued an Order in the proceedings barring Mr. Taylor from the securities industry. The administrative proceeding was brought after a final Judgement was entered against Mr. Taylor from an earlier related civil action brought by the SEC.
The Law Office of Kevin J. Deloatch, Esq. is interested in speaking to investors who have complaints regarding George L. Taylor.
Registration Background for George L. Taylor
According to Investment Advisor Public Disclosure (IAPD) Mr. Taylor, is/was the CEO, founder, Chief Compliance Officer, and majority owner of Temenos Advisory, Inc. (CRD # 108458/SEC # 801-56486), a SEC-registered investment adviser headquartered in Litchfield, CT. The firm had been registered with the SEC from January 1998 to July 2020, at which time its registration was revoked by the SEC.
According to FINRA BrokerCheck (p. 5), Mr. Taylor first became registered in the securities industry in 1983 and was most recently registered with Litchfield, CT based Fairport Capital, Inc. (CRD # 15034/SEC # 8-32162) from January 1998 to October 2018. His prior registrations include New England Securities (CRD # 615/SEC # 801-47061,8-13910) from March 1985 to December 1997 and First Investors Corporation (CRD # 305/SEC # 8-13891) from March 1983 to February 1985.
SEC’s Findings Against George L. Taylor
The SEC’s July 14, 2020 Order makes clear that in anticipation of the institution of the SEC’s administrative proceedings, Mr. Taylor submitted an Offer of Settlement (the “Offer”) in which he consented to, without either admitting to or denying, the following findings:
- “On June 30, 2020, a final judgment was entered by consent against [Mr.] Taylor, permanently enjoining it from future violations of Sections 206(1), and (2), of the Advisers Act, and Section 15(a) of the Exchange Act, and aiding and abetting violations of Section 206(4) of the Advisers Act and Rule 206(4)-7 thereunder, in the civil action entitled Securities and Exchange Commission v. George L. Taylor, et al., Civil Action Number 3:18-cv-01180, in the United States District Court for the District of Connecticut”;
- “The Commission’s complaint alleged that Taylor and Temenos defrauded their advisory clients and prospective clients by steering the clients into unsuitable investments and by hiding commissions and other financial incentives that Temenos and Taylor were pocketing, on top of the advisory fees that the clients were paying for supposedly unbiased financial advice”;
- “Temenos and Taylor repeatedly downplayed or concealed risks, and overstated potential gains, associated with a series of illiquid private placements that they advised their clients and prospective clients to invest in”; and
- “Taylor and Temenos promoted the investments and pocketed commissions—a percentage of each client’s investment—from the private placement companies, thereby illegally acting as unregistered broker-dealers.”
The SEC Sanctions George L. Taylor
As a result of the above described Offer and findings, the SEC’s July 14, 2020 Order also indicates that Mr. Taylor consented to the following sanctions:
- A bar from associating with any broker, dealer, investment adviser, municipal securities dealer, municipal adviser, transfer agent or nationally recognized statistical rating organization.
- Barred from participating in any offering of a penny stock, including: acting in the capacity of a promoter, finder, consultant, agent or other person who engages in activities with a broker, dealer or issuer for purposes of the issuance or trading in any penny stock, or inducing or attempting to induce the purchase or sale of any penny stock.
If you or someone you know has or had an investment advisory relationship with George L. Taylor and have concerns regarding losses in your investments or possible sales practice violations including fraud, you may be entitled to recover lost funds. The Law Office of Kevin J. Deloatch, Esq. has an extensive securities law practice and over 30 years of experience on Wall Street. Call today at (646) 792-2156 for a free consultation. The time to file your claim may be limited so you should call today to avoid delay.