FCA Warns Crispin Odey Over Integrity Breaches

Crispin Odey has received a warning from the UK's Financial Conduct Authority (FCA) regarding his 'lack of integrity' in relation to allegations of sexual misconduct. The FCA stated that Odey's behavior toward Odey Asset Management (OAM) and the regulator was characterized by a lack of candor, as he used improper means to safeguard his interests during a disciplinary process. Following multiple allegations of sexual harassment and assault, OAM has faced significant turmoil, including banks severing ties and investors withdrawing funds, leading to the suspension of several funds. Odey, who rejoined OAM's board earlier this year, had previously been removed from the firm amid scandal and scrutiny. The FCA's notice details breaches of its code of conduct from December 2021 to November 2022, highlighting Odey's attempts to obstruct the disciplinary hearing process. Despite the turmoil, Odey’s personal fortune remains largely tied to OAM, valued at approximately £561 million as of 2023.