Former Carillion Bosses Face Bans as U.K. Regulators Close In

The new U.K. business secretary is seeking to ban eight directors of Carillion Plc for up to 15 years, as regulators are closing in on the multinational construction company whose 2018 collapse triggered demands for audit reform.

The U.K. Secretary of State for Business, Energy and Industrial Strategy has “issued company director disqualification proceedings in the public interest against eight directors and former directors of Carillion,” the Insolvency Service said Thursday by email. The new business secretary, Kwasi Kwarteng, wants to disqualify the directors “because their conduct, whilst acting as a director of Carillion, makes them unfit to be ...