Watchdog criticised for failing to impose financial penalties two years after firm’s collapse
The City watchdog intends to censure Carillion and some of its executive directors after finding they “recklessly misled” markets and investors over the deteriorating state of its finances before the company collapsed into liquidation two years ago.
Carillion was one of the government’s biggest contractors, with work spanning the construction of roads and rail infrastructure to running school canteens. Its collapse was the biggest corporate failure in the UK in a decade and prompted criticism of its executives, auditors and the handling of public sector contracts by private companies.
