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The Australian firm has, however, said it will not be affected by this investigation.

The Serious Fraud Office (SFO) has opened a criminal investigation into business and accounting practices at Hampshire-based Quindell. Quindell said the SFO had informed it has opened an investigation into the company’s past business and accounting practices.

On Wednesday, Quindell posted a huge pretax loss in its delayed 2014 results after it changed its accounting policies to book revenue later in the “client service cycle”, saying revenue and profit will now be recognised, in the majority of cases, when liability is...