The Administrative Appeals Tribunal (AAT) has varied ASIC’s decision to ban a financial adviser, Atish Prasad, from providing financial services for three years (refer: 15-088MR).

On 15 May 2015, Mr Prasad applied to the AAT for a review of ASIC’s decision. On 8 June 2016, the AAT decided to vary ASIC's decision to ban Mr Prasad from providing financial services and reduced the term of the ban from three years to 18 months. The banning now ceases on 26 October 2016.