UK financial watchdog ‘will not take any action against’ Odey Asset Management

FCA says investigation continues into sexual misconduct claims against fund founder and political donor Crispin Odey

The UK’s financial regulator will not take any action against Odey Asset Management (OAM), the investment fund founded by Crispin Odey which was shut earlier this year after multiple allegations of sexual misconduct by him against junior female members of staff.

The Financial Conduct Authority (FCA) has closed its investigation into OAM and “will not take any action”, the fund said an investor letter on Tuesday.