Crispin Odey has lost his appeal against a lifetime ban from financial services after the Upper Tribunal found that he deliberately obstructed an internal disciplinary investigation at Odey Asset Management. The tribunal upheld a £1.53 million fine, described in the latest account as reduced from an initial £1.8 million claim; an earlier record put the original figure at £1.835 million. The court found that Odey acted with reckless disregard for City rules, prioritised his own interests over OAM, its staff and investors, and upheld all five of the FCA’s allegations, including that he threatened the regulator’s staff. The case focused on Odey’s handling of the investigation rather than determining every underlying sexual-misconduct allegation. OAM’s 2020 investigation by Simmons & Simmons identified at least 46 misconduct claims dating back to 2003. After its executive committee issued Odey a final warning in 2021, he dismissed the committee before a disciplinary hearing and later removed a replacement board after disagreements over the process. Odey Asset Management collapsed into a wind-down in 2023 after banks cut ties and investors withdrew funds. Odey has two weeks to file a further appeal.