Carillion finance bosses 'unlikely to admit wrongdoing'

By Jordan Marshall2018-07-16T06:00:00

Financial watchdog says it expects any disciplinary action against Carillion's financial directors to be contested

Carillion's former finance directors Zafar Khan and Richard Adam are likely to contest any disciplinary proceedings brought against them, the Financial Reporting Council has told MPs running the inquiry into the contractor's collapse.

In a letter to Frank Field and Rachel Reeves, who chair the joint committee inquiry, the FRC's chief executive Stephen Haddrill said while his organisation's investigation was ongoing if sufficient evidence was found to bring disciplinary action against Adam and Khan he expected it to be contested.

Haddrill wrote: "Once the investigations are complete, the FRC Executive Counsel will determine whether the legal threshold is met to bring disciplinary proceedings.

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