Hedge fund manager Crispin Odey has been fined £1.8 million and banned from the City by the UK's Financial Conduct Authority (FCA) for attempting to obstruct a disciplinary investigation into serious sexual harassment allegations made against him. The FCA concluded that Odey's behavior showed a reckless disregard for regulatory governance, rendering him unfit for the financial industry. This ruling follows allegations from 20 women and comes two years after initial media reports. Odey has denied the claims and plans to contest the FCA's decision in the upper tribunal, amidst concerns about institutional silence on misconduct.
The Financial Conduct Authority announced hedge fund manager Crispin Odey will be banned and fined £1.8m for obstructing a disciplinary process related to serious misconduct allegations.
Odey's actions between December 2021 and November 2022 displayed reckless disregard for governance, proving he is unfit for regulated activities according to the FCA.
Therese Chambers from the FCA emphasized that a culture of silence regarding misconduct undermines market integrity and consumer safety, highlighting the importance of accountability.
Despite the allegations of sexual harassment made by 20 women, Odey has denied any wrongdoing and intends to challenge the FCA's decision in the upper tribunal.
Collection
[
|
...
]