Carillion insider trading probed

INVESTIGATORS are probing allegations of insider trading at collapsed construction firm Carillion.

The Financial Conduct Authority, which is investigating events that led up to the firm’s collapse, revealed the investigation in a letter to Labour MP Frank Field.

FCA chief executive Andrew Bailey said: ‘We are aware of allegations of insider trading in Carillion’s shares prior to its trading update on July 10, 2017 and are looking into them.’

It comes days after the Pensions Regulator confirmed it was considering forcing the doomed firm’s directors to make a financial contribution to the pension fund, which was left with an £800m black hole when it collapsed.