Reference Case Number: FOI9258
Freedom of Information: Right to know request:
The FCA have conducted an investigation into Collateral (UK) Ltd. The investigation ran (to the best of my knowledge) from early 2018 until charges were laid in early 2022[1].
1. How many hours were spent on the investigation?
If the investigation continues please supply the total to date.
2. What was the cost of the investigation?
If the cost has not been finalised what is the cost to date?
Collateral (UK) was not regulated - how are the costs of the investigation to be met?
FCA response:
The investigation was opened in March 2018. In January 2022 the FCA charged two individuals with Fraud and money laundering offences.
1. Hours spent on the investigation
The total hours spent on the investigation to date are:
9,532.75 hours. This is from March 2018 up to 16 May 2022.
2. Costs
The cost of the investigation to date is £247,309.00 and will be met from FCA funds.