UK watchdog fines ex-Carillion finance chiefs over misleading statements.

The Financial Conduct Authority fined former Carillion finance directors Richard Adam (£232,800) and Zafar Khan (£138,900) for publishing misleading information and failing to disclose serious problems ahead of the group's 2018 collapse.

Britain's Financial Conduct Authority has fined two former Carillion finance directors for their roles in publishing misleading market information before the group's collapse. The FCA said Richard Adam and Zafar Khan knew of serious problems in the company's UK construction arm but did not disclose them or alert the board or audit committee. The fines were imposed after both dropped appeals against the regulator's findings. Key points: - The FCA reported the pair acted recklessly and were found to have breached market abuse and listing rules by publishing misleading information and failing to maintain adequate controls. - Fines were set at £232,800 for Richard Adam and £138,900 for Zafar Khan after they withdrew their appeals. - Zafar Khan was also banned from holding directorships for 11 years, and a tribunal hearing for former CEO Richard Howson is scheduled for February 16. Summary: Regulators described the actions as enforcement of duties to keep markets properly informed. The fines and the ban follow the company's 2018 collapse, and the next related procedural step is the February 16 tribunal hearing for the former CEO.