Telit Communications says FCA won't take action against company

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Internet of things group Telit Communications said that Britain's Financial Conduct Authority had informed it that it would not take enforcement action against the company.

The regulator had completed an investigation into the timing and accuracy of previous market disclosures.

'We are very pleased that this matter has now been resolved,' chief executive Simon Duffy said.

'The composition of the board has changed completely since the events that were the subject of the FCA's investigation and Telit's corporate governance has improved significantly.'