Crispin Odey Faces City Watchdog Trial Over Sexual Harassment Allegations and FCA Ban

Millionaire fund manager Crispin Odey is set to face a three-week trial with the Financial Conduct Authority (FCA) as he challenges the £1.8 million fine and ban from working in the financial services industry imposed upon him. The case stems from a series of historical sexual assault allegations, which Odey denies.

Background of the Allegations and FCA Action

In March 2025, the FCA cited Odey’s “lack of integrity” as the basis for its decision, alleging he attempted to fight the allegations of sexual assault made against him even as at his firm Odey Asset Management. The allegations first came to light in 2023 following an investigation by the Financial Times and Tortoise Media, which revealed accusations from over a dozen women spanning a period of 25 years.

Odey has consistently denied the claims, describing them as “rubbish.” He also faced a criminal charge in 2021 for indecent assault relating to an incident in 1998, but was subsequently acquitted.

Upcoming Legal Battles

In addition to the FCA trial, Odey is preparing for a separate legal battle against the Financial Times for defamation. This case is being heard alongside five personal injury claims brought by women alleging sexual misconduct, which Odey also denies. He is seeking at least £79 million in damages from the Financial Times.

The FCA Investigation and Allegations

The FCA trial, scheduled to begin on March 9, 2026, before Judge Rupert Jones, will delve into the details of the internal investigation conducted by Odey Asset Management. Court documents revealed last month indicate that the investigation, carried out by law firm Simmons & Simmons, uncovered 46 allegations of “inappropriate conduct” by female staff against Odey over a 17-year period.

Following the initial findings, Odey reportedly received a “final written warning” and acknowledged the demand to modify his behavior, but remained in control of the firm. The FCA alleges that Odey deliberately sought to obstruct the disciplinary processes and protect his own interests. He is accused of using his majority shareholding to remove the existing members of the firm’s executive committee shortly before a scheduled disciplinary hearing in January 2022, and then appointing himself as the sole member of the committee, indefinitely postponing the hearing.

Legal Representation

The FCA’s legal team is led by Clare Sibson KC, Simon Paul, and Lara Hassell-Hart of Fountain Court and 4 Stone Buildings, respectively. Odey is represented by Alisdair Williamson KC and Jason Mansell of Three Raymond Buildings and QEB Hollis Whiteman, instructed by Kingsley Napley partner Jill Lorimer.

Odey claims the FCA treated his case as “totemic” and an opportunity to demonstrate its new authority in investigating non-financial misconduct. This trial will mark the first time Odey is publicly cross-examined regarding the events that transpired at his firm.