Lamprell fined for breaching FSA listing rules

Lamprell has reached a settlement with the Financial Services Authority (FSA) for failing to inform the market of its deteriorating financial position last year.

Lamprell has reached a settlement with the Financial Services Authority (FSA) for failing to inform the market of its deteriorating financial position last year.

The oil and gas-focused specialist engineering group said Monday it was fined £2.4m after the FSA ruled it found deficiencies in the company's systems and controls which meant that it could not adequately assess its financial performance.

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