Former Bradford & Bingley director hit with £30k fine

Willford received information that suggested that B&B's financial outlook might be weaker than expected on 16 May 2008 and he failed to raise that with the board to ensure information provided to shareholders about the rights issue on 19 May was correct. The FCA said Willford’s conduct had not caused the failure of the rights issue, or B&B’s subsequent nationalisation. The size of the fine reflected the length and timing of the misconduct, which took place over three days during the height of the financial crisis, the FCA said. FCA director of financial crime and enforcement Tracey...