US EditionUK Watchdog Fines Ex-Carillion Finance Directors After They ...
- Two former finance directors of Carillion, Richard Adam and Zafar Khan, were fined by the Financial Conduct Authority for misleading investors before the company's collapse in January 2018, as they failed to reflect this in company announcements or alert the board and audit committee.
- Richard Adam was fined £232,800 and Zafar Khan was fined £138,900 after they withdrew their challenges to the FCA's findings.
- The FCA found that the directors acted recklessly and were knowingly concerned in breaches by Carillion of the Market Abuse Regulation and the Listing Rules.
- Zafar Khan said he settled with the FCA due to financial constraints and the lengthy proceedings, asserting, 'I continue to believe I acted at all times with integrity and in the best interests of the company.
14 Articles
14 Articles
Two former Carillion directors fined over lapses at bust ‘PPP’ construction giant
Britain’s financial watchdog has fined two former Carillion finance directors after they dropped appeals against findings that they had mislead investors about the company’s financial health before it collapsed in 2018.
FCA Penalizes Former Carillion Executives for Misleading Investors
The UK's Financial Conduct Authority fined former Carillion finance directors Richard Adam and Zafar Khan for misleading investors about the company's financial status before its 2018 collapse. The pair were penalized for publishing misleading information and not maintaining adequate controls, significantly impacting public services.
FCA Fines Ex-Carillion Directors £371,700 for Financial Mismanagement
The recent fines imposed on Richard Adam and Zafar Khan, former finance directors of the collapsed construction giant Carillion, underscore the critical importance of accurate financial reporting and corporate governance in maintaining market integrity. The Financial Conduct Authority’s (FCA) decision to fine Adam and Khan a total of £371,700 for their roles in Carillion’s financial mismanagement… Source
Two former Carillion directors see fines reduced
The Financial Conduct Authority (FCA) has reduced the fines for two former Carillion finance directors over their part in misleading statements being issued by the firm. Richard Adam and Zafar Khan were both aware of serious financial troubles in Carillion’s UK construction business but failed… The post Two former Carillion directors see fines reduced appeared first on Construction News.
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