Disgraced hedge fund supervisor Crispin Odey launches authorized bid to reverse City ban and £1.8m superb

Disgraced hedge fund manager Crispin Odey will today launch a legal battle to overturn a financial services ban and £1.8million fine.

Odey, 67, was handed the penalty by City watchdog the Financial Conduct Authority (FCA) last year over his handling of sexual harassment allegations against him. 

The FCA said he showed a ‘lack of integrity’ in seeking to frustrate an internal investigation at his company.

Odey’s appeal will begin today at the Upper Tribunal in London. 

His firm, Odey Asset Management, imploded after the Financial Times published allegations in 2023 of sexual harassment or misconduct against the tycoon, which he denies.

The FCA case centres on events in 2021. Odey was issued a final written warning about his behaviour towards female staff, but the hedge fund later opened another investigation.

Legal fight: Hedge fund boss Crispin Odey (pictured) was handed a financial services ban and a £1.8m fine by the FCA over his handling of sexual harassment allegations against him

Odey used his powers as majority shareholder to fire the executive management committee less than two weeks before a disciplinary hearing. 

He later axed the replacement committee. The FCA said his conduct showed he was ‘not fit and proper to perform regulated activities’.

Odey reportedly claims that the disciplinary process was ‘fundamentally unfair’.