LONDON, Jan 7 (Reuters) – Britain’s financial watchdog said on Wednesday it had fined two former Carillion directors for their part in issuing misleading statements by the British construction services giant, which collapsed in 2018.
Former finance chiefs Richard Adam and Zafar Khan knew of serious problems in the company’s UK construction arm, the Financial Conduct Authority (FCA) said, but failed to disclose them in market statements or alert the board and audit committee.
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The FCA said Adam and Khan have been fined 232,800 pounds ($314,186) and 138,900 pounds, respectively, after dropping their appeals against the regulator’s findings.
($1 = 0.7410 pounds)
Reporting by Muvija M, writing by Sam Tabahriti, editing by Catarina Demony
UK watchdog fines ex-Carillion finance chiefs over misleading statements
