The UK's financial regulator the Financial Conduct Authority is investigating whether hedge fund manager Crispin Odey is "a fit and proper person" to work in financial services, and is in contact with the police over allegations made against the Odey Asset Management founder, according to a report by Bloomberg.

The UK's financial regulator the Financial Conduct Authority (FCA) is investigating whether hedge fund manager Crispin Odey is "a fit and proper person" to work in financial services, and is in contact with the police over allegations made against the Odey Asset Management founder, according to a report by Bloomberg.

In a letter to the chair of the UK's Treasury Committee, dated 3 July, the FCA said as some of the allegations are "potentially criminal", it had contacted London's Metropolitan Police.

The FCA's investigation is focusing on whether Odey breached integrity rules in dismissing the executive committee of his firm for "an improper purpose", with an inquiry by its enforcement arm reportedly ongoing.

Odey, who was ousted from Odey AM last month following reports of serial sexual misconduct, has denied the allegations.