UK watchdog proposes to censure Carillion for being "reckless"

Fri, 13th Nov 2020 10:54

LONDON, Nov 13 (Reuters) - Collapsed builder Carillion and
some of its executive directors were "reckless" in failing to
ensure that public announcements did not mislead investors,
Britain's Financial Conduct Authority said on Friday.

"They made misleadingly positive statements about
Carillion's financial performance generally and in relation to
its UK construction business in particular, which did not
reflect significant deteriorations in the expected financial
performance of that business and the increasing financial risks
associated with it," the FCA said.

"In relation to Carillion, a public censure is proposed,"
the FCA statement said.

(Reporting by Huw Jones; editing by David Evans)

Carillion Plc