3 Former Carillion Bosses Face Fines For Misleading Reports

By Alex Davidson (July 28, 2022, 2:08 PM BST) -- The Financial Conduct Authority said Thursday that it will hand fines to three former directors of Carillion for misrepresenting the poor financial performance of the construction giant before it entered into liquidation in 2018.

The regulator said it has decided to fine Carillion's former chief executive officer, Richard Howson, £397,800 ($482,000). The FCA will also sanction two former finance directors: it will hand Richard Adam a fine of £318,000 and hit Zafar Khan with a £154,400 penalty.

The three former managers have referred the matter to the Upper Tribunal, an independent body that can review a regulator's decisions, the FCA said....

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