FCA upholds lifetime ban and fine on hedge fund titan Crispin Odey

In a landmark appeal, the Upper Tribunal dismissed Crispin Odey’s bid to overturn the FCA’s lifetime ban, confirming a £1.53 million fine for his conduct. The regulator concluded that Odey deliberately frustrated its investigation into multiple sexual-misconduct claims and showed reckless disregard for its rules. Witnesses described a workplace dominated by the founder’s domineering and often abusive behavior, citing numerous allegations spanning more than two decades.

The tribunal also noted Odey’s attempts to rewrite history and portray himself as a victim. The decision follows a series of civil settlements, a dropped £79 million defamation suit, and the 2023 collapse of Odey Asset Management after banks withdrew support.