Five former Carillion executives banned by accountancy regulator

Richard Adam, Zafar Khan and three others are also fined by Financial Reporting Council

• Business live – latest updates

Five former executives at the collapsed government contractor Carillion have been bannedby the UK’s accountancy regulator, effectively ending the career of its former finance chief, after they “acted recklessly”.

Before Carillion collapsed into compulsory liquidation in January 2018 – one of the biggest corporate failures in UK history – it was a large multinational construction and facilities management services company and employed 43,000 people around the world.