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FCA publishes Carillion decision notices

FCA has published its decision notices in respect of Carillion plc and three of its former executive directors.  As the company is in liquidation, FCA has imposed a public censure, which has not been appealed.  However, had the firm not been insolvent and in liquidation it would have imposed a fine of nearly £38m

It has decided to fine Carillion’s former CEO nearly £400,000, one of its former FDs £318,000 and another £154,000. The three individuals have appeals the decisions to the Tribunal.

FCA considers that Carillion recklessly published misleading announcements which did not accurately or fully disclose the company’s true performance and were misleadingly positive. FCA said three individuals acted recklessly and were knowingly concerned in the contraventions.

 

Emma Radmore