Financial watchdog to probe Carillion announcements

CARILLION is being investigated by the Financial Conduct Authority over statements issued between December 2016 and July 2017.

The construction giant said it is “cooperating fully” with the FCA after being notified that the financial regulatory body has “commenced an investigation in connection with the timeliness and content of announcements made by Carillion between 7 December 2016 and 10 July 2017″. 

During that period, the firm’s share price dropped significantly.

In November, the Unite union called for “urgent talks” with Carillion over the company’s future, after the contractor issued a profits warning and revealed it is set to breach its banking covenants.