Takeover Panel Member Guy Elliott Resigns Following SEC Charges

By Carlo Martuscelli Features Dow Jones Newswires

U.K. regulator the Takeover Panel announced on Friday that Guy Elliott has resigned from his position as a member of the regulatory body.

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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

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October 20, 2017 05:22 ET (09:22 GMT)