The UK’s top financial regulator is investigating Odey Asset Management, the hedge fund firm whose founder Crispin Odey is facing more than a dozen accusations of sexual assault and harassment, people familiar with the situation told the Financial Times.
The Financial Conduct Authority opened an investigation into Odey Asset Management two years ago, according to one person familiar with the probe. The investigation was initially focused on non-financial misconduct, the person said, but later shifted to corporate governance issues after Odey fired his executive committee in 2021.
The FT revealed that Odey fired his executive committee in December 2021, after they attempted to discipline him for breaking a “final written warning” prohibiting him from behaving inappropriately with female staff.
Odey Asset Management did not immediately respond to requests seeking comment on the FCA probe.
The FCA may now widen its investigation to consider potential non-financial misconduct by Odey. Discussions about widening the probe arose after revelations in the FT on Thursday, the person familiar with the probe added.
“We are unable to comment on individuals or specific firms,” the FCA told the FT in a statement. “However, we take allegations of non-financial misconduct seriously and expect firms to have adequate governance procedures in place that ensures allegations of misconduct are properly investigated.”
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