England and Wales Judgment

Robin Crispin Odey v The Financial Conduct Authority

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Professional case brief

Research organized from the available case record

Source document

01

Holding and result

Reporting restrictions are necessary to protect the identity of alleged complainants and related individuals, except where disclosure is required for the conduct of related libel/personal injury proceedings or as permitted by the Tribunal.

Court disposition

Reporting restrictions order granted

Orders

  • No one except the parties and their advisers may publish or disclose the name or initials of any alleged complainant or related individual (other than Mr Odey) in relation to the specified documents and matters, except with Tribunal permission or as necessary for related libel/personal injury proceedings.
  • The order specifically applies to individuals identified in the Confidential Schedule.
  • The order does not prohibit disclosure/publication for the conduct of the Libel/PI Proceedings.
  • Liberty to apply for affected media or third parties.

02

Material facts

Parties

Robin Crispin Odey

Applicant

Financial Conduct Authority

Respondent

03

Procedural history

  1. Posture

    Order / Reporting Restrictions Application

04

Questions and positions

Legal issues

Whether reporting restrictions should be imposed regarding the identification of alleged complainants and related individuals in the proceedings.

Party arguments

Applicant
The applicant and media representatives indicated that disclosure or publication of certain documents and information may be necessary in connection with the conduct of related libel/personal injury proceedings or other court proceedings, and that reporting restrictions in other proceedings are not for the Tribunal to decide.
Respondent
The Authority applied for reporting restrictions to prevent publication or disclosure of the names or initials of alleged complainants or related individuals, except as permitted by the Tribunal or as necessary for related proceedings.

05

Court’s reasoning

  1. 01

    Tribunal Procedure (Upper Tribunal) Rules 2008, Rule 14

    The Tribunal may impose reporting restrictions to protect the identity of complainants and related individuals under Rule 14 of the Tribunal Procedure (Upper Tribunal) Rules 2008.

06

Ratio, limits and disposition

Ratio decidendi

Reporting restrictions are necessary to protect the identity of alleged complainants and related individuals, except where disclosure is required for the conduct of related libel/personal injury proceedings or as permitted by the Tribunal.

Court disposition

Reporting restrictions order granted

  • No one except the parties and their advisers may publish or disclose the name or initials of any alleged complainant or related individual (other than Mr Odey) in relation to the specified documents and matters, except with Tribunal permission or as necessary for related libel/personal injury proceedings.
  • The order specifically applies to individuals identified in the Confidential Schedule.
  • The order does not prohibit disclosure/publication for the conduct of the Libel/PI Proceedings.
  • Liberty to apply for affected media or third parties.

Source and reliance status

Official court record

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Judgment reading view

Judgment text

The complete available source text.

Source document

Court record

Judgment

Judgment

Reference Number: UT-2025-000021 Neutral Citation Number: [2026] UKUT 00141 (TCC) IN THE UPPER TRIBUNAL (TAX AND CHANCERY CHAMBER) BEFORE: THE HONOURABLE MR JUSTICE THOMPSELL, JUDGE RUPERT JONES,

MEMBER CATHERINE FARQUHARSON BETWEEN:

ROBIN CRISPIN ODEY Applicant The Authority -and-

THE FINANCIAL CONDUCT AUTHORITY

ORDER UPON the oral application of the Authority for reporting restrictions; AND UPON hearing Counsel for the Authority, Counsel for the Applicant, and representatives from Law 360 (Mr William James) and The Times (Mr Ben Martin) in person; AND UPON the ex tempore ruling of the Upper Tribunal delivered by Judge Jones on 26 March 2026; AND UPON the proceedings in Claim Nos KB-2024-001562, KB-2024-001194, KB-2024- 001198, KB-2024-001151, KB-2023-0003397, and KB-2024-001164, in which the Applicant is also a party (“the Libel/PI Proceedings”); AND UPON the Applicant and RPC Legal (representing the Times and the Financial Times) indicating in an email dated 1 April 2026 that: (1) disclosure or publication of the documents and information referred to in paragraph 1 below may be necessary in connection with the conduct of the Libel/PI Proceedings or any other proceedings before the courts; and (2) the issue of Reporting Restrictions Orders in respect of the reporting of any other proceedings is not a matter for the Tribunal; IT IS ORDERED THAT: PENAL NOTICE: BREACH OF THIS ORDER MAY BE TREATED AS A CONTEMPT OF COURT AND MAY RESULT IN THE IMPOSITION OF A FINE,

IMPRISONMENT OR SEIZURE OF ASSETS 1. Pursuant to Rule 14 of the Tribunal Procedure (Upper Tribunal) Rules 2008, save with the permission of the Tribunal, and save as set out in paragraph [3] below, no one, save for the parties and their advisers in connection with the conduct of these proceedings, shall publish or disclose the name or initials of any alleged complainant (or, if different, any individual, save for Mr Odey, who was the source of or the subject of any such alleged complaint) in relation to these proceedings in respect of: 1.1 The facts and matters concerning Mr Odey set out in the document titled “Summary of Evidence Relating to the Alleged Conduct of Crispin Odey” dated 19 January 2021 (referred to at the hearing as “the First Simmons & Simmons Report”, and by its trial bundle reference “F/68”). 1.2 The facts and matters concerning Mr Odey set out in the document titled “Summary of Evidence Relating to the Alleged Conduct of Mr Crispin Odey” dated 30 November 2021 (referred to at the hearing as “the Second Simmons & Simmons Report”, and by its trial bundle reference “F/237”). 1.3 The facts and matters concerning Mr Odey’s interaction with a new joiner at Odey Asset Management during an office tour in March 2021 (referred to at the hearing as “the New Joiner Allegation”).

2. For the avoidance of any doubt, this order applies specifically (but without prejudice to the generality of paragraph 1) to include the individuals identified by the initials/ciphers set out in the Confidential Schedule to this Order.

3. This Order does not prohibit the disclosure or publication by any person of any document or information in connection with the conduct of the Libel/PI Proceedings.

4. Liberty to apply to any member of the media (or other third party) affected by this Order. JUDGES OF THE UPPER TRIBUNAL: THE HONOURABLE MR JUSTICE THOMPSELL, JUDGE RUPERT JONES,

MEMBER CATHERINE FARQUHARSON RELEASE DATE: 7 APRIL 2026 4

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Authorities

Authorities used by the court

Cases, legislation, regulations, and constitutional provisions identified in the available record.

Tribunal Procedure (Upper Tribunal) Rules 2008, Rule 14

Legislation

Legislation referenced in the available case record.

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