The UK's Financial Conduct Authority (FCA) has concluded its investigation into Odey Asset Management (Odey AM), and will not take any action against the London-based hedge fund firm, which closed this year following allegations of sexual misconduct against founder Crispin Odey, according to a report by Reuters.

The report cites an investor letter seen by Reuters, as confirming that the FCA had closed its investigation into the firm, which had been ongoing since 2021, according to a letter sent to the Treasury Select Committee on 12 December by FCA CEO Nikhil Rathi.

A separate investigation into the conduct of Crispin Odey "remains live", according to the letter.