The Financial Reporting Council has just published its decision and report in the case of the conduct of the CFO of a company that collapsed several years ago, a company called Healthcare Locums. I had been a shareholder but sold long before it went belly up.
Here's the link:
https://www.frc.org.uk/News-and-Events/FRC-Press/Press/2015/July/Outcome-of-disciplinary-case-against-Ms-Diane-Jar.aspx
It makes for very interesting reading.
I'm sure we would all have our own lists of other CFO's (or CEO's) who would also make suitable cases for investigation, if only the FRC were much more active in pursuing fairly obvious cases of abuse, or had the resources to do so.
And for today's comedy break from the Financial Conduct Authority, we have this:
"The irony is that just a few days before the election, Wheatley signalled a significant change of direction for the regulator. In a speech at a financial conference organised by communications consultancy Lanson, he signalled that the focus of the Financial Conduct Authority was moving from the era of heavy enforcement and fines that has so upset the banks and insurance companies to supporting the growth agenda."
http://www.standard.co.uk/business/markets/anthony-hilton-policies-need-fixing-in-the-wake-of-regulator-martin-wheatleys-departure-10404287.html
Where was the "heavy enforcement"?
