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FCA Fines Ex-Carillion Executives £371,700 for Misleading Investors

1/7/2026

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Summary

Story summary

The Financial Conduct Authority fined Richard Adam and Zafar Khan £371,700 for misleading statements before Carillion's January 2018 collapse.
The FCA found they acted recklessly and did not inform the market, board, or audit committee.
Adam was fined £232,800 and Khan £138,900 after withdrawing challenges.
The Carillion collapse left the group with £7 billion in debt and over 3,000 job losses.
KPMG was fined £21 million for inadequate audits.

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Story summary

The Financial Conduct Authority fined Richard Adam and Zafar Khan £371,700 for misleading statements before Carillion's January 2018 collapse.
The FCA found they acted recklessly and did not inform the market, board, or audit committee.
Adam was fined £232,800 and Khan £138,900 after withdrawing challenges.
The Carillion collapse left the group with £7 billion in debt and over 3,000 job losses.
KPMG was fined £21 million for inadequate audits.