ASIC has banned former client adviser, Mr Ryan Batros, of Melbourne, from providing financial services for five years.　

Mr Batros was an authorised representative with Morgans Financial Limited, a financial services licensee, between January 2012 and 29 August 2014.　

The banning follows an ASIC investigation into Mr Batros’ conduct on 25 and 26 August 2014 in placing "execution only" orders on the ASX that he had received from clients to sell shares and options of Metals of Africa Limited (MTA) when he was in possession of information regarding an impending capital-raising by MTA. MTA subsequently announced the capital-raising in an announcement to the ASX on 3 September 2014.　

Following a hearing, an ASIC delegate found that Mr Batros contravened a financial services law.　

Mr Batros has applied to the Administrative Appeals Tribunal for review of ASIC’s banning order.