Takeover Panel Member Guy Elliott Resigns Following SEC Charges
October 20 2017 - 4:37AM
Dow Jones News
By Carlo Martuscelli
U.K. regulator the Takeover Panel announced on Friday that Guy
Elliott has resigned from his position as a member of the
regulatory body.
The panel--which is tasked with overseeing the administration of
takeover and mergers of London-listed companies--cited legal
proceedings related to his former role as chief financial officer
at Rio Tinto PLC (RIO.LN). The proceedings were brought forward by
the U.K. Securities and Exchange Commission, the panel added.
On Wednesday, Rio Tinto announced that the SEC had filed a civil
complaint of fraud against it regarding the impairment of
subsidiary Rio Tinto Coal Mozambique in the mining company's
year-end accounts.
Mr. Elliott has also resigned from his position as non-executive
director at Royal Dutch Shell PLC (RDSA.LN).
Write to Carlo Martuscelli at carlo.martuscelli@dowjones.com
(END) Dow Jones Newswires
October 20, 2017 05:22 ET (09:22 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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