| Link(s): | FCA decides to fine and ban Robin Crispin Odey | FCA Notice of Decision 2025: Robin Crispin William Odey Warning Notice Statement 24/4 |
Context
The FCA has decided to fine Crispin Odey of Odey Asset Management LLP (OAM) over £1.8m and ban him from the UK financial services industry for a lack of integrity, having issued a Notice of Decision to him on 3rd March 2025. The Notice of Decision, which runs to 30 pages, followed a Warning Notice issued on 1st November 2024. Mr Odey has waived his rights to make representations in the FCA’s internal decision-making process and is referring the Decision Notice to the Upper Tribunal, using an expedited reference procedure. That being the case, neither the ban nor the fine is yet in place.
Key points to note and next actions
The details of this case have been reported previously and can be found in the Notice of Decision. In summary:
- The FCA considers that Mr Odey deliberately sought to frustrate OAM’s disciplinary processes into his conduct to protect his own interests.
- Mr Odey showed reckless disregard for OAM’s governance, causing OAM to breach certain regulatory requirements.
- In addition, the FCA considers that Mr Odey’s behaviour towards both OAM and the FCA lacked candour.
- The FCA considers Mr Odey’s conduct demonstrated that he is not a fit and proper person to perform any function related to regulated activities.
- Following allegations of sexual harassment by two employees, which included an allegation of sexual assault by Mr Odey on a female member of staff in 2005, OAM’s initial investigation identified numerous allegations of sexual harassment by Mr Odey of female members of staff between 2003 and 2020.
- OAM in the process of winding down and is no longer authorised by the FCA.