FCA intends to take action against Crispin Odey

UK financial watchdog the Financial Conduct Authority warned Odey Asset Management founder Crispin Odey on Friday that it intends to take action against the disgraced hedge fund boss.

The FCA said it had found that Odey's response to allegations of sexual harassment and assault over a period of many years had breached its rules and "lacked integrity".

Odey was slapped with a warning notice from the FCA that proposed to take action over his actions to "frustrate" a disciplinary process at his hedge fund after allegations of sexual misconduct had been made.

The FCA's decision was not final and said Odey, who has disputed the allegations, can challenge its findings.

Reporting by Iain Gilbert at Sharecast.com