FCA upholds ban on former hedge fund boss Crispin Odey after tribunal finds integrity breach

The Upper Tribunal ruled against former hedge-fund manager Crispin Odey, upholding the Financial Conduct Authority’s ban from the UK finance industry. The tribunal found Odey had demonstrated “arrogant entitlement” and a lack of integrity while handling sexual-misconduct allegations at Odey Asset Management. After receiving a final written warning in 2021, he allegedly harassed a temporary receptionist and then dismissed two executive committee members investigating the breach, leaving himself as the sole member.

Judges noted his actions were driven by self-interest and a warped sense of entitlement, undermining governance and normalising inappropriate conduct. FCA enforcement director Therese Chambers said Odey tried to act with impunity and showed no remorse. The authority’s earlier fine of £1,835,200 was reduced to £1,529,374 by the tribunal.