FCA: Final Notices: Richard Adam/Zafar Khan
07 Jan 2026
United Kingdom
1 min read
FCA has fined two former FDs of Carillion, noting that they acted recklessly and were knowingly concerned in breaches by the firm of MAR and the Listing Rules. The individuals had both been aware of serious financial troubles in the firm’s UK construction business and had failed to reflect this in company announcements or alert the Board and audit committee. Richard Adam and Zafar Khan were fined £232,800 and £138,900 respectively. FCA notes that the findings in the Final Notices are not the subject of any judicial finding and that the firm’s former CEO, Richard Howson, has received a Decision Notice in respect of related findings and has referred it to the Upper Tribunal – the hearing is expected to start next month.
