Mon, 17 Mar 2025

Mon, 17 Mar 2025 Hedge fund millionaire banned by City watchdog

Crispin Odey has also been fined £1.8m by the Financial Conduct Authority for a "lack of integrity".

* Crispin Odey, a millionaire fund manager, has been provisionally banned from working in financial services and fined £1.8m.
* The Financial Conduct Authority (FCA) said Odey's conduct demonstrated "a lack of integrity" and that he is "not a fit and proper person to perform any function related to regulated activities".
* The FCA found that Odey attempted to frustrate a disciplinary process into sexual harassment allegations against him.
* The misconduct allegations, which Odey strongly denies, were reported by the Financial Times in 2022.
* The regulator said Odey used his majority shareholding in OAM to remove existing members of its executive committee and appointed himself sole member to delay the disciplinary hearing.
* The FCA's Therese Chambers stated that a culture of silence on misconduct allegations can put consumers and markets at risk, and that Odey's actions warrant a ban from the industry.
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