FCA warns Crispin Odey it will take action after his response to allegations ‘lacked integrity’

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The UK’s financial watchdog has warned Crispin Odey that it intends to take action against the hedge fund boss after finding that his response to allegations of sexual misconduct had breached its rules and “lacked integrity”.

The Financial Conduct Authority said on Friday that it had given Odey a warning notice proposing to take action over his actions to “frustrate” a disciplinary process at his hedge fund after allegations of sexual misconduct were made.

Odey fell from grace after the Financial Times detailed allegations of sexual harassment and assault over a period of many years by the founder of Odey Asset Management. He has strenuously disputed the allegations.

The FCA’s decision is not a final one and Odey can challenge it.

Odey did not immediately respond to a request for comment on the FCA’s statement.

This is a developing story