News

Law

Asset Management

Investment Banking

Wealth

Hedge Funds

People

Newsletters

Events

Lists

Regulation

FCA probes tech firm WANdisco over falsified accounts

Regulator probes firm that City feared would be another blow in its battle to secure IPOs

WANdisco founder David Richards, who stepped down as chief executive after accounting irregularities were revealed last month
WANdisco founder David Richards, who stepped down as chief executive after accounting irregularities were revealed last month Photo: Simon Dawson/Getty Images

The Financial Conduct Authority is investigating WANdisco after the UK software group overstated its revenues by almost $15m.

The probe marks the latest troubles for the firm, whose two top executives stepped down last month after a review into accounting discrepancies found that the $24m figure it posted in January for 2022 revenue should have been $9.7m.

WSJ Logo