FCA Censures Tech Co. For Market Abuse Costing £43M

Law360, London (June 26, 2020, 5:39 PM BST) -- The finance watchdog said Friday it has launched criminal action against three former employees of an information technology company and "publicly censured" the firm for making false and misleading financial reports which led investors to lose up to £43 million ($53 million).

The Financial Conduct Authority said it has censured Redcentric PLC, an IT services company based in Yorkshire, after the company published financial results that misstated its debt obligations and overstated its assets.

The former employees of the company, which is listed on the London Stock Exchange's AIM market, will face charges of making a false or misleading statement when they appear...

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