Odey Asset Management - including subsidiaries Brook Asset Management and Odey Wealth - is to close down following sex scandal accusations that engulfed its owner Crispin Odey earlier this year.

The Financial Conduct Authority has restricted the movement of cash and assets from Odey Asset Management (FRN: 214843) according to an update to the FCA Register published today.

The Treasury Committee, the influential Commons committee of MPs, has written to FCA chief executive Nikhil Rathi to raise questions on the regulator’s reported investigation into Odey Asset Management.

The executive committee of Odey Asset Management LLP - the partnership which runs Odey AM - has removed founder Crispin Odey from the partnership following allegations in the Financial Times about Mr Odey and governance at the investment firm.