FTSE healthcare company censured for false financial statements

A FTSE 100 company that traded in 19 companies and excluded two-thirds of its debts from its financial reports has been censured by the FCA. No fine is being levied on NMC, the UAE-based healthcare operator, because it went into administration in 2020 and a fine would reduce the amounts paid to existing creditors.

By Neasa MacErlean

While the 'relevant period' under investigation covers reports published between March 2019 and February 2020, the Financial Conduct Authority says it "is aware of allegations of similar and related misconduct" pertaining to the years 2012 to 2017. These will not be investigated as further findings would be unlikely to affect the outcome.