Watchdog moves to ascertain if there has been any insider information infringementWPP contacted by FCA to check if it is in breach of lawsThe financial services watchdog has contacted WPP to check if it is in breach of laws relating to insider information regarding the amount of company money that Sir Martin Sorrell is alleged to have misused. A breach would be not disclosing information that might have a material impact on WPP’s share price. The top WPP executive tasked with keeping the business running after Sorrell’s abrupt departure said on Thursday that a break-up of the marketing services giant made no sense. The global chief executive of Wunderman and WPP Digital, who has previously served on the company’s board, sent an email to the company’s 200,000 global workforce to try to calm nerves about the uncertain future WPP faces. The Sky chief executive, Jeremy Darroch, tipped as a well-qualified contender to take over from Sorrell, ruled himself out of the running on Thursday.

Source: The Guardian April 19, 2018 15:12 UTC