Early each year, we note the top shorted London-listed shares as at the start of the year. How did 2018's perform?...
It is individuals that commit financial crime not corporates. And thus, as I have noted so many times before, the only way that we will clean up financial markets in the UK is by starting to throw the book at individuals who sin, making sure that all transgressions, however small, go punished. And that brings us to today's news that the Financial Reporting Council (FRC) has started an investigation into the conduct of Mr Richard Adam and Mr Zafar Khan, former Group Finance Directors of Carillion (CLLN) and members of the ICAEW.
The only UK financial watchdog that is anything other than a poodle has again bared its teeth and again it is the auditors at KPMG that are in the firing line, this time over Carillion (CLLN). Still being investigatred over its role in the Quindell fraud, let off the hook on HBOS, KPMG at least knows how the Financial Reporting Council works.
A note popped into my inbox with regard to the demise of Carillion. At first glance, it seems we’ve all been here before – way back in 1990 (when even Tom Winnifrith was a young man). For Carillion today, read Coloroll then.
