The FCA has declined to comment on reports in the Financial Times that Odey Asset Management is under investigation.

According to the FT, Odey AM has been under investigation for two years over a number of issues, including accusations that founder Crispin Odey behaved inappropriately towards 13 women over a 25 year period.

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

Today the FCA said it would not comment on the story, however Odey Asset Management has issued a statement from CEO Peter Martin “in response to articles published in the FT."

Mr Martin said the firm did not recognise the picture of the firm portrayed by the FT.

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

Mr Martin said in the statement, released yesterday: “We are responding as Senior Management on behalf of Odey Asset Management LLP (OAM) to the articles published in the Financial Times today relating to Mr Crispin Odey and OAM.

“For legal reasons we cannot comment in detail on the various allegations which are being looked into by our lawyers.

“However, OAM treats, now and in the past, all such allegations extremely seriously. OAM has robust policies and procedures in place to ensure that the firm at all times complies with all of its legal and regulatory obligations. Staff wellbeing is central to the culture of OAM’s business. We do not recognise the picture of the firm that has been painted by the Financial Times.

“In addition to ensuring the wellbeing of all members of staff, OAM’s priority is safeguarding the interests of clients of the firm and our investors. We have no concerns about the returns that have been generated for clients of the firm and investors (both to date and going forward).

“We are aware of press coverage relating to actions allegedly being taken by prime brokers and other service providers to OAM. While we cannot comment in detail, again for legal reasons, we are in active discussions with all service providers and we are confident that our service providers will continue to work with us to ensure that the interests of investors are protected.”

Mr Odey has been one of the highest profile fund managers in the UK and a regular speaker at conferences. He founded Odey AM, a hedge fund manager, in 1991. He has been a prominent donor to political parties and causes including Brexit and the Conservative Party.