FRC to investigate ex-Bradford & Bingley finance chief Chris Willford The Financial Reporting Council, the UK accounting watchdog, has launched an investigation into the conduct of Chris Willford, the former Bradford & Bingley finance director. Last month Mr Willford, a qualified accountant, was fined £30,000 by the financial regulator for failing to provide the bank's board with up-to-date information ahead of its collapse five years ago. Bradford & Bingley was nationalised in 2008, with the Government taking charge of the bank's £50bn mortgage and loan book and Santander buying its £20bn savings business and branches. The FCA said Mr Willford received information three days before the bank's unsuccessful £300m rights issue on May 19, which should have been raised with the board. The information withheld included rising mortgage impairments, increasing arrears and repossessions and that B&B was not on course to meet its pre-tax profit forecast for the year. It also showed that the interest rates B&B charged to, and received from, customers had fallen. Within four months of the rights issue's failure, on September 27, 2008, B&B was nationalised. Mr Willford could not be reached for comment.