UK financial watchdog the Financial Conduct Authority has been urged by the lawyer representing two of the alleged victims of sexual abuse by Crispin Odey, to ring-fence Odey AM assets to cover potential future damages claims, according to a report by the Financial Times.

UK financial watchdog the Financial Conduct Authority (FCA) has been urged by the lawyer representing two of the alleged victims of sexual abuse by Crispin Odey, to ring-fence Odey AM assets to cover potential future damages claims, according to a report by the Financial Times.

Fieldfisher lawyer Jill Greenfield, who has been instructed by two women to pursue civil damages claims against Odey, has reportedly written to the FCA requesting that the watchdog increase its existing restrictions on the movement of the firm's assets to ensure that funds would be available to pay any awards made in the favour of Odey's alleged victims.

The FCA has already agreed a number of voluntary restrictions with Odey AM, including limiting payments to staff and any other “unusual” transfers.

The FCA has confirmed receipt of the Fieldfisher letter and has said that it will respond.

As well as the original 13 women who originally accused Odey of sexual assault or harassment as reported by the FT last month, an additional six have reportedly now made similar allegations.