FCA confirms it is investigating Crispin Odey over sex scandal claims

FCA confirms it is examining Crispin Odey if he is a ‘fit and proper person’ to work in finance

Probe: Hedge fund boss Crispin Odey has been accused of sexual misconduct by 13 women

The Financial Conduct Authority (FCA) is investigating Crispin Odey whether he is a ‘fit and proper person’ to work in the financial services industry and whether he has breached the watchdog’s rules.

It follows allegations of sexual misconduct against the hedge fund manager by 13 women, reported last month, which he denies.

The details were disclosed in a letter from FCA CEO Nikhil Rathi in response to questions from the Commons Treasury Committee.

The investigation could lead to a suspension or fine for Odey, who has been dropped from Odey Asset Management, the company he founded.

It is also under investigation by the FCA and can face an unlimited fine. Rathi highlighted the wider issue that the watchdog was receiving three allegations of sexual misconduct from women every quarter, saying it is “unacceptable that women should continue to be frightened for their safety at work and frightened for their careers if they raise concerns ‘.

He said the FCA has been in contact with police, adding that “any decision on whether to investigate is a matter for them.”

The Metropolitan Police confirmed the contact last month, saying: “No criminal charges were reported at the time and none have been made since. As a result, no police investigation takes place.’

The Mail could not reach Odey for comment. His former firm declined to comment.

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