This follows allegations that Odey had breached integrity rules in dismissing the executive committee of his firm for "an improper purpose".

The regulator says it continues its inquiry into whether Odey dismissed his executive committee for an improper purpose.

In a letter to the chair of Britain's Treasury Committee, FCA Chief Executive Nikhil Rathi said the regulator's supervision of Odey Asset Management had been "intensive" since 2020 and its investigations were opened in mid-2021.

The FCA said Odey has not held an approved senior manager role since 2020.

But the FCA also said that it did not have the authority to pursue criminal prosecutions or disciplinary processes and should not be seen as an alternative to the UK justice system.

While the regulator increased resources to prevent authorisation of individuals who might put at risk objectives of fitness and propriety, it said these goals relate to the protection of consumers, integrity of markets and promotion of competition in markets.

Odey was acquitted of indecently assaulting a young female banker in 1998, after a three-day London trial in 2021.

Judge Nicholas Rimmer told Westminster Magistrates' Court at upon the acquittal that some of the evidence of the woman, who could be named for legal reasons, "would not be inconsistent with a vivid imagination".

The FCA noted in its letter that of the seven individuals it had prohibited for non-financial misconduct, six faced a criminal conviction, or caution.

The FCA remains focused on improving the culture of the firms it oversees, the letter said.

Odey, 64, was ousted in June from the firm he founded in 1991 after the Financial Times and Tortoise Media on June 8 jointly reported on allegations of sexual misconduct against 13 women. Odey has denied the allegations.