Crispin Odey, a hedge fund manager, is facing a ban from the City and a fine of £1.8m by the Financial Conduct Authority (FCA) due to accusations of trying to obstruct a disciplinary process concerning allegations of sexual harassment. The FCA stated that Odey demonstrated a “reckless disregard” for his hedge fund’s governance and deemed him unfit to engage in activities related to regulated functions.

Odey intends to challenge the decision, which pertains to his conduct from December 2021 to November 2022, in the upper tribunal. Nearly two years earlier, the Financial Times and Tortoise Media reported claims of sexual assault and harassment against Odey from 20 women, which led to his removal from Odey Asset Management (OAM). In October 2023, OAM announced it was closing.

FCA’s Therese Chambers emphasized that not addressing misconduct effectively can endanger consumers and markets. Odey was accused of using his majority shareholding in OAM to dismiss the existing executive committee members before a disciplinary hearing in January 2022. He then postponed the hearing indefinitely, claiming a lack of impartiality. After appointing and removing multiple board members, a disciplinary hearing eventually took place in November 2022, almost a year late.

Odey filed a £79m libel lawsuit against the Financial Times in December, claiming he suffered significant financial loss due to the articles alleging his involvement in sexual misconduct. Odey has been approached for comment.

Source: https://www.theguardian.com/business/2025/mar/17/crispin-odey-banned-from-city-fine-fca