UK
Ireland
Scotland
London
Construction News
28/06/2018
FCA To Probe Allegations Of Insider Trading At Carillion
The Financial Conduct Authority (FCA) has launched a probe into allegations of insider training prior to the collapse of industry services giant, Carillion.
In a letter to Work and Pensions Committee Chair, Frank Field MP, FCA Chief Executive Andrew Bailey confirmed the watchdog is "looking into allegations of insider trading".
The letter states: "Our Investigation is into the timeliness and content of the firm's announcements. Our primary focus Is to determine whether the matters announced in Carillon's trading update on 10 July 2017 were identified and announced at the appropriate time.
"We are also considering whether earlier announcements made by Carillon were false or misleading as a result. This includes Carillon's £845 million contract provision as well as Carillion's revised expectations as to revenue, profit and debt levels that were also announced on 10 July. Our investigation currently covers potential breaches of the Market Abuse Regulation, Listing Rules and Listing Principles.
"We are aware of allegations or insider trading in Carillion's shares prior to its trading update on 10 July 2017 and are looking into them."
(LM/MH)
In a letter to Work and Pensions Committee Chair, Frank Field MP, FCA Chief Executive Andrew Bailey confirmed the watchdog is "looking into allegations of insider trading".
The letter states: "Our Investigation is into the timeliness and content of the firm's announcements. Our primary focus Is to determine whether the matters announced in Carillon's trading update on 10 July 2017 were identified and announced at the appropriate time.
-- Advertisement --
"We are also considering whether earlier announcements made by Carillon were false or misleading as a result. This includes Carillon's £845 million contract provision as well as Carillion's revised expectations as to revenue, profit and debt levels that were also announced on 10 July. Our investigation currently covers potential breaches of the Market Abuse Regulation, Listing Rules and Listing Principles.
"We are aware of allegations or insider trading in Carillion's shares prior to its trading update on 10 July 2017 and are looking into them."
(LM/MH)
Latest Construction News
17/01/2025
Leeds Trinity University has officially opened its newly refurbished City Campus at 1 Trevelyan Square in Leeds.
Completed by GRAHAM Interior Fit-Out, the transformation of the central Leeds site introduces state-of-the-art facilities designed to improve learning and collaborate with industry partn
17/01/2025
Trammell Crow Company (TCC) has secured planning permission for a Grade A logistics scheme in Heywood, Greater Manchester, following a successful planning appeal.
The development will feature two state-of-the-art industrial and logistics buildings. One building will house two units measuring 4,796
17/01/2025
Poole-based developer AJC Group has celebrated a record-breaking 2024, delivering 100 affordable homes, a significant increase from the 72 units completed in the previous year.
Since 2023, AJC Group has completed and handed over 172 affordable homes across five sites.
In 2024 alone, the developer
17/01/2025
Plans for one of the most ambitious parks projects in London have taken a significant step forward, with Haringey Council securing nearly two additional acres of land around The Paddock nature reserve in Tottenham Hale.
The agreement with Thames Water marks a major milestone in the transformation o
17/01/2025
Islington Council has unveiled two draft guidance documents aimed at helping residents, businesses, and developers combat climate change by making buildings more energy efficient and fostering a greener, healthier borough.
The consultation seeks feedback on the draft Climate Action Supplementary Pl
17/01/2025
The City of Wolverhampton Council has unveiled a £98 million investment plan over the next five years to develop around 500 new homes across the city.
The proposal, part of the Housing Revenue Account (HRA) Business Plan, received Cabinet approval this week and now moves to Full Council for final
17/01/2025
Croydon Council has announced a significant milestone in the redevelopment of the Purley Pool site, with revised proposals submitted for a new leisure centre, later living housing, and the regeneration of the surrounding area.
A planning application for the site was initially submitted in 2024, pro
17/01/2025
The City of Wolverhampton Council has announced that demolition work has commenced on the New Park Village estate, marking the start of a major £40 million redevelopment project to transform outdated council housing.
Contractor DSM Demolition has begun pulling down poor-quality bungalows on Valley
17/01/2025
Hillingdon Council has acquired 12 new homes at Carpenters Court in Uxbridge.
Leader of Hillingdon Council, Cllr Ian Edwards and Cllr Steve Tuckwell, Cabinet Member for Planning, Housing and Growth, visited the site to officially mark the handover of the properties from local developer Kearns Devel
17/01/2025
Organisers of UK Construction Week (UKCW) have announced another major coup for the show's 10th anniversary year, with the news that UKCW London will be co-locating with the 14th edition of The Stone Show & Hard Surfaces, the principal industry event for surface design.
Established 26 years ago, th
