The Financial Conduct Authority has restricted the movement of cash and assets from Odey Asset Management following the agreement of voluntary restrictions with the firm.
According to reports from the FT, the regulator is due to publish details of the restrictions later today (19 June). A person familiar with the situation told the FT the regulator would require preapproval for transactions above a certain level, in order to conserve cash and assets for the normal running of their businesses. Odey Special Situations suspended following 'sizeable' redemptions The move comes following a wave at suspensions at Odey Asset Management and its subsidiary Brook Asset Management, which has seen five funds suspended or closed since the publication of an FT in...
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