The Financial Conduct Authority spent £66,400 on its new logo, which was designed by advertising giant Saatchi & Saatchi.
The FCA paid the advertising firm £57,600 to audit its brand and design the new logo (pictured), according to a Freedom of Information request.
The regulator spent the remaining money on areas such as trademarking the logo and buying rights to use the font used in the logo.
Mortgage Strategy revealed the regulator was planning to refresh its logo last month as part of a brand refresh.
An FCA statement says: “We undertook a refresh of the FCA brand to make sure our brand is accessible, open and transparent so that all our audiences understand our role.
“In particular, we need to ensure our brand works well for digital use and takes into account accessibility considerations.”
The regulator’s statement adds that consumers think the words ‘Financial Conduct Authority’ should be “clearly legible and accessible” in the logo.
It adds: “We are aiming to implement the brand refresh taking into account our value for money objective. This means that the existing FCA logo will be phased out over the next year as we update systems and templates as part of our move to new offices in Stratford.”