Former Bradford & Bingley director hit with £30k fine
The Financial Conduct Authority (FCA) has fined Christopher Willford, the former finance director at Bradford & Bingley (B&B), £30,000 for failing to provide the board with up-to-date information about B&B's financial position, including profits, mortgage arrears and re-possessions, ahead of its 2008 rights issue.
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...
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