FCA spends £13m on coronavirus so far with costs expected to rise

As at the end of June, the FCA's costs specifically related to Covid-19 work were £12.8m, with staff costs of £9.6m and non-staff costs of £3.2m. The FCA noted the above costs did not include the full cost of the work being undertaken in respect of the business insurance review, and it expects its Covid-19 costs to be ongoing throughout the year. PA first asked the FCA about its coronavirus expenditure in May, however the regulator took several months to consider whether it could hand over the information. PA's request for information also revealed an average of 825 staff have been...