(Reuters) -Britain’s markets regulator Financial Conduct Authority (FCA)restricted the movement of cash and assets from Odey Asset Management in an attempt to restore order at the firm after its founder Crispin Odey was removed over allegations of sexual misconduct, the Financial Times said on Sunday.
The FCA will publish the details of voluntary restrictions agreed with Odey Asset Management on Monday, the FT report said.
Lawmakers on Britain’s Treasury Select Committee sent a letter to the FCA on Wednesday to question the regulator’s supervision of Odey Asset Management and its founder.
Odey Asset Management on Friday suspended further funds after increased investor redemptions, letters posted on the fund’s website showed. It is also in advanced talks to move funds and staff to other asset managers.
The hedge fund has grappled with investor flight after Odey became the focus of sexual misconduct allegations in media reports.
The Financial Times and Tortoise Media, in a joint publication on June 8, reported allegations by 13 women that Odey had sexually assaulted or harassed them over a 25-year period.
The FCA and Odey Asset Management did not immediately respond to a Reuters request for Comment.
(Reporting by Rishabh Jaiswal in BengaluruEditing by Chris Reese)
