Fallout from sexual misconduct accusations spread
Wall Street firms are poised to reassess how they vet hedge funds, industry sources and experts say, following a race to cut ties with Odey Asset Management after founder Crispin Odey was accused of sexual misconduct in the press.
They may decide to interpret those existing agreements differently to avoid being associated with scandal as they face greater scrutiny on their tolerance for misconduct even when it is making them money. All of the banks mentioned in this story declined to comment when asked about the vetting process between their prime brokerage services and hedge funds.
“Whether or not the prime brokerages should have been aware of any improprieties will be discussed and investigated,” said Neumann.
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