Odey loses regulatory approval for client dealing

Following his removal from Odey Asset Management

Crispen Odey


Crispin Odey can no longer deal directly with clients at his eponymous hedge fund, according to the Financial Conduct Authority (FCA) Register, with the regulator confirming that he no longer holds any roles that require regulatory approval.

Odey (pictured) lost his client dealing privileges on 12 June, just two days after he was removed from the firm’s partnership structure in light of the numerous allegations of sexual misconduct levelled against him.

On 10 June, Odey AM stated that its former boss’ “economic and personal involvement” in the firm had been ended.

Events have spiralled since the Financial Times released a report on 8 June detailing allegations of sexual assault or harassment made by 13 women against Odey over a period of 25 years. Odey denies the allegations.

The FCA has also moved to restrict the movement of assets and cash from Odey AM outside the ‘ordinary course of business’ in order to stabilise the firm.

Odey AM’s funds have received significant outflows, and four products suspended trading last week. The Odey Swan fund will also close for good, having been open to investors for a decade.

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