Crispin Odey is under investigation by UK regulator the FCA to determine whether he is a “fit and proper person” to work in the UK financial services industry after allegations of improper conduct from numerous women.
Odey has already been ousted from Odey Asset Management, the hedge fund he founded, due to the complaints with the FCA adding he had been under investigation for two years.
Fund manager Odey has repeatedly denied the allegations, which came to a head a month ago when the FT published an article citing incidents involving thirteen women over a period of twenty-five years.
That sparked a surge of withdrawals from clients with several funds ‘gated’ to stop the redemptions with plans also in place for a break-up of the firm.
As some of the allegations are “potentially criminal” in nature the FCA added it has been in contact with the police.
In a letter to the Treasury Select Committee, FCA chief executive Nikhil Rathi said: “It is unacceptable that women should still be made to feel frightened for their safety at work and afraid for their careers when they raise concerns.”
Rathi noted also that the allegations against Odey are unproven.