MPs scrutinise FCA over two-year Crispin Odey probe
Update
The FCA is under pressure from MPs over its handling of misconduct allegations against the hedge fund manager Crispin Odey.
The Financial Times reports that people familiar with the situation understand that the FCA has been conducting a two-year inquiry into Odey and his firm Odey Asset Management. This comes in the wake of the FT’s own investigation into how founder Odey has evaded sexual assault allegations for several decades.
According to the FT’s report, 13 women who have worked for Odey Asset Management or had social or professional dealings with Crispin Odey have told the newspaper that Odey abused or harassed them. Eight alleged he sexually assaulted them.
A law firm representing Odey said he ‘strenuously disputed’ the allegations when they were released last week.
Following publication of the FT's report, Odey was removed as a member of the partnership, and management of his funds has been split between the remaining staff. The partnership is believed to be considering closing the Odey Swan fund.
A spokesperson for Odey Asset Management said on Sunday 11 June that the firm had been in ‘regular communication’ with the FCA in recent days, and denied claims that it was considering gating its range of UCITS funds.
Link: https://www.investmentweek.co.uk/news/4117777/mps-scrutinise-financial-conduct-authority-crispin-odey-probe-reports
https://www.ft.com/content/e837bb62-8a62-4f6b-98b5-169914bbf509