FCA defends spending over £60k on new logo

The FCA has defended its decision to spend more than £60,000 upgrading its logo.

The regulator employed advertising consultants Saatchi and Saatchi to redesign its branding last year, spending a total of £66,000.

Fund Strategy sister title Mortgage Strategy revealed earlier this year through a Freedom of Information request that the FCA paid Saatchi and Saatchi £57,600 to audit its brand and design the new logo.

The regulator spent the remaining money on areas such as trademarking the logo and buying rights to use the font.

Speaking at the regulator’s annual public meeting in London today, FCA acting chief operating officer Nausicaa Delfas said: “We have indeed changed the logo. This was because it was necessary to do this. It was difficult for visually impaired people to recognise the FCA logo as it was.

“This is important because we are preparing to launch a consumer campaign on the payment protection insurance deadline and other communications to consumers.

“We did very thorough testing to see what would be best recognised.”