The UK Financial Reporting Council (FRC) has fined Chartered Institute of Management Accountants (CIMA) member Christopher Willford £13,000 ($22,266) for misconduct.
On January 2014, The FRC started an investigation into Willford’s conduct as group finance director of Bradford and Bingley (BBG), a bank from west Yorkshire.
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
The FRC’s investigation found that between 16 and 19 May 2008 Willford "failed to have proper regard to the available financial information and its relevance to the rights issue being planned by BBG and failed to advise the board appropriately".
Willford and the FRC agreed on a settlement with the following terms: Willford will have to pay a £13,000 fine, he will receive a reprimand and will also have to pay £250 to cover the FRC executive counsel’s investigation costs.
At the time of publication, CIMA was not available for comment.
Related links
