FCA says 'no remark' on FT stories of Odey AM probe

The FCA has declined to touch upon stories within the Monetary Occasions that Odey Asset Administration is below investigation.

In accordance with the FT, Odey AM has been below investigation for 2 years over numerous points, together with accusations that founder Crispin Odey behaved inappropriately in direction of 13 girls over a 25 12 months interval.

Mr Odey was discovered not responsible of indecent assault in 2021 in relation to an incident alleged to have taken place in 1998. 

As we speak the FCA stated it could not touch upon the story, nevertheless Odey Asset Administration has issued a press release from CEO Peter Martin “in response to articles printed within the FT.”

Mr Martin stated the agency didn’t recognise the image of the agency portrayed by the FT.

The FT has reported that the FCA is investigating Odey AM over non-financial misconduct and governance points.

Mr Martin stated within the assertion, launched yesterday: “We’re responding as Senior Administration on behalf of Odey Asset Administration LLP (OAM) to the articles printed within the Monetary Occasions right now referring to Mr Crispin Odey and OAM.

“For authorized causes we can’t remark intimately on the assorted allegations that are being seemed into by our attorneys.

“Nonetheless, OAM treats, now and prior to now, all such allegations extraordinarily critically. OAM has strong insurance policies and procedures in place to make sure that the agency always complies with all of its authorized and regulatory obligations. Workers wellbeing is central to the tradition of OAM’s enterprise. We don’t recognise the image of the agency that has been painted by the Monetary Occasions.

“Along with guaranteeing the wellbeing of all members of employees, OAM’s precedence is safeguarding the pursuits of purchasers of the agency and our traders. Now we have no considerations in regards to the returns which were generated for purchasers of the agency and traders (each to this point and going ahead).

“We’re conscious of press protection referring to actions allegedly being taken by prime brokers and different service suppliers to OAM. Whereas we can’t remark intimately, once more for authorized causes, we’re in lively discussions with all service suppliers and we’re assured that our service suppliers will proceed to work with us to make sure that the pursuits of traders are protected.”

Mr Odey has been one of many highest profile fund managers within the UK and an everyday speaker at conferences. He based Odey AM, a hedge fund supervisor, in 1991. He has been a distinguished donor to political events and causes together with Brexit and the Conservative Occasion.