The UK’s Financial Conduct Authority imposed restrictions on the movement of cash and assets by Odey Asset Management in an attempt to restore order after the ouster of its founder, Crispin Odey.
The financial regulator published details of the voluntary restrictions agreed with Odey Asset Management on Monday, saying that the firm must cease withdrawals and transfers outside of the normal course of business. The FCA declined to comment further.
A spokesman for the London-based firm declined to comment.
Odey Asset Management was plunged into turmoil earlier this month, after the FT published multiple allegations of sexual harassment and assault by Odey, who denies the allegations. Even after severing ties with Odey, the firm has had to take dramatic steps to contain the fallout, including shuttering one fund and suspending withdrawals from four others.
Read more: Odey’s One-Week Downfall Was Decades in the Making
--With assistance from Nishant Kumar.
