Former Carillion group chief executive Richard Howson has been fined £237,700 for his part in misleading statements issued by the failed contractor.

The fine from the FCA comes after Howson withdrew his challenge to the financial watchdog’s decision after a probe into Carillion’s 2018 collapse

He was originally fined £397,800 in 2022 but the fine has been reduced after the FCA said it had overstated his “relevant income” and his co-operation with the investigation.

The FCA said: “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.”

It added: “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.

Steve Smart, executive director of enforcement and market oversight at the FCA, said: “Carillion’s failure was significant. Jobs were lost, public sector projects put at risk and investors, who trusted the company to give them accurate information, suffered large scale losses. That’s why the FCA worked diligently to hold the company and its senior leaders to account.”

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.