Adviser banned by FCA hits back with petition

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An adviser who tried and failed to overturn his ban from the FCA has hit out at the regulator in an online petition.

Church Hill Finance’s Anthony Badaloo was convicted on trespass and criminal damage charges in 2015, on the back of which the FCA removed his permissions.

Badaloo had been authorised since 2004 to conduct both investment advice and regulated home finance business.

The convictions surrounded his attempts to re-enter his office after another wealth management and private banking firm Kleinwort Benson, took possession of it.

Badaloo’s records were placed in storage, and the FCA expressed concerns that Badaloo did not have adequate back-ups.

Badaloo refused to give up his permissions voluntarily, and appealed his ban at the Upper Tribunal.

On 24 April, a judge ruled the appeal should be struck out because there was “no possibility” Badaloo was able to make a substantive case.

He has now hit back at the FCA in an online petition on the change.org website.

In a half hour video accompanying the petition, Badaloo contests his convictions and criticises the FCA’s role in the case.

He says: “I’m an innocent man. I’ve been in the business 30-odd years with an unblemished reputation. I have built up a portfolio of properties and four of them have been stolen.

“I’m disappointed the FCA are somehow caught up to support Kleinwort Benson.They are just trying to cover up and cover up.”

At the time of writing, the petition had 1,376 signatures.

The FCA declined to comment.