FCA’s Neil Woodford probe racks up more than £2m in costs

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The FCA has spent more than 34,800 hours on its investigation into the collapse of Neil Woodford’s flagship fund, data obtained by FN showsIllustration: illustration: Ben Tallon

The Financial Conduct Authority has spent at least £2.4m on its long- running investigation into the collapse of Neil Woodford’s flagship fund, which this month culminated in a multimillion-pound fine for the former star stock-picker.

Data obtained byFinancial Newsthrough a Freedom of Information Act request also revealed the City watchdog has devoted at least 34,816 hours to the case, which began in June 2019 when the Woodford Equity Income fund was suspended.