Crispin Odey Fined £1.8M, Banned From UK Finance

Crispin Odey, the founder of Odey Asset Management, has been fined £1.8 million and banned from the UK financial services industry by the Financial Conduct Authority (FCA) due to a lack of integrity and reckless disregard for governance. The FCA's provisional decision follows an investigation into allegations of historical sexual misconduct, including claims of sexual harassment and assault against female employees. Odey has denied the allegations but is accused of obstructing disciplinary processes aimed at addressing these claims, which contributed to the collapse of his hedge fund. The FCA stated that Odey's behavior demonstrated he is unfit for a role in regulated activities, emphasizing the risks posed to consumers and markets by a culture of silence surrounding misconduct. Odey plans to appeal the FCA's findings at the Upper Tribunal, maintaining that he did not commit the alleged acts. The situation marks a significant fall from grace for one of Britain's prominent hedge fund managers, whose firm is in the process of being wound down.