UK regulator fines Carillion's former chief $324,500 over misleading statements

LONDON, ⁠Feb 16 - Britain's ​Financial Conduct Authority said on Monday it had fined ​the ‌former chief executive of Carillion, Richard Howson, 237,700 ⁠pounds ($324,500) for his role in misleading ⁠statements issued by ​the company before it collapsed.

Carillion, once one of Britain's biggest contractors with 43,000 staff, collapsed in January ​2018 ‌under 7 billion pounds of liabilities.

"The FCA found that Mr Howson acted recklessly and was knowingly concerned in breaches by Carillion ​of the Market Abuse Regulation and the Listing ‌Rules," Britain's financial regulator said in a statement.

The FCA said the penalty ‌was imposed only after Howson withdrew his challenge to the regulator's findings, allowing the decision to ​take effect.

The regulator added that while the group finance director ‌bore primary responsibility for ensuring market statements were accurate, Howson had a significant part to ⁠play as ⁠the board member with the ‌deepest knowledge of construction and contracting.

Earlier this year, the regulator ​also

fined

two ​former Carillion finance chiefs after ‌they abandoned appeals against findings that they misled investors.

Carillion Plc