Citation :
The UK’s Financial Conduct Authority has restricted the movement of cash and assets from Odey Asset Management in a bid to restore order at the hedge fund after its founder Crispin Odey was ousted over allegations of sexual impropriety. The FCA will publish details on Monday of voluntary restrictions agreed with Odey Asset Management, The moves follow a tumultuous 10 days for the businesses founded by Crispin Odey, who was accused of sexual assault or harassment by 13 women in an investigation published by the FT. Odey Asset Management, which includes a hedge fund that had $4.4bn under management before the allegations emerged, told investors last week it was in talks to shed some of its funds, people and infrastructure. The firm’s other partners had ousted Odey days earlier, but that was not enough to stem the tide. So far, four of Odey Asset Management’s funds have been suspended, the most recent on Friday after a “sizeable level” of withdrawal requests.
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