The UK Financial Conduct Authority (FCA) has fined Richard Howson £237,700 for his part in misleading statements being issued by Carillion plc.

As group chief executive, Mr Howson was aware of serious financial troubles in Carillion’s UK construction business. He failed to reflect this in company announcements or alert its board and audit committee, leading to poor oversight.

The fine was imposed after Mr Howson withdrew his challenge to the FCA’s decision.

Mr Howson was one of two executive directors on Carillion’s Board. His responsibilities included working closely with the group finance director (the other executive director on the board) to ensure Carillion communicated effectively with investors and had appropriate internal control processes.

Primary responsibility for ensuring the financial information disseminated to the market was accurate and not misleading lay with the group finance director. However, Mr Howson played an important role as the Board member with the most expertise on construction and contracting matters.

The FCA found that Mr Howson acted recklessly and was knowingly concerned in breaches by Carillion of the Market Abuse Regulation and the Listing Rules.

During the period in question, Carillion’s group finance director was first Richard Adam and then Zafar Khan. They were fined £232,800 and £138,900, respectively, in January 2026.