Former hedge fund boss Crispin Odey has been removed from the Financial Conduct Authority’s (FCA) register of approved persons in the wake of the recent sexual harassment scandal that has engulfed him and the asset management firm he founded.
Previously, Odey was listed on the FCA register as an approved person at Odey Asset Management, allowing him to directly interact with clients and perform other tasks. However, this approval was revoked on June 12, the register shows.
Odey resigned as CEO of the hedge fund business in 2020 and consequently lost his approval for that position. With the recent removal from the FCA register, Odey no longer holds any approved positions, according to the regulator.
Additionally, Odey’s status as a partner in the asset management business has been revoked, as announced by the firm.
In response to the allegations, the FCA has imposed restrictions on Odey Asset Management, including limitations on cash and asset movements. The firm is now required to seek prior approval from the regulator for transactions above a certain size. Detailed information about these restrictions will be published on June 26.
Odey’s removal from the FCA register signifies a significant turning point for the hedge fund executive, who has been implicated in serious allegations of sexual misconduct.
The Financial Times recently reported that 13 women have accused Odey of sexual assault or harassment. Odey has denied these allegations.
Funds Europe reached out to Odey Asset Management for a comment regarding Odey’s removal from the FCA register but the firm declined to comment.
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