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British Hedge Fund Founder Crispin Odey Loses Appeal Against FCA Industry Ban
Overview of Crispin Odey’s Appeal and FCA Ruling
Background of the Case
LONDON, Sept 14 (Reuters) – Hedge fund manager Crispin Odey on Monday lost his appeal against an industry ban for hampering an internal disciplinary investigation into allegations of sexual harassment against him, though his £1.8 million ($2.43 million) fine was trimmed.
Crispin Odey’s Career and Influence
Odey, who founded Odey Asset Management in 1991, shot to prominence during the 2008 financial crisis after making a fortune short-selling bank shares. He was also a leading backer of Brexit and a donor to the Conservative Party.
FCA’s Allegations and Actions
Britain’s Financial Conduct Authority (FCA) last year said it would fine and ban Odey for a lack of integrity in relation to how his now-defunct firm OAM investigated complaints of sexual harassment made against him by female staff.
Details of the Investigation
The FCA said Odey deliberately frustrated his fund’s disciplinary process by twice dismissing the members of its executive committee, in 2021 and 2022, when it was investigating allegations of sexual misconduct.
Odey’s Defense
Odey, however, said he was trying to…
Read More: Crispin Odey Loses Appeal Against FCA Industry Ban, Fine Reduced
