Tasmanian adviser Troy Williams will serve a six-year ban after the Administrative Appeals Tribunal overturned a permanent exclusion from providing financial services.

The Australian Securities and Investments Commission (ASIC) imposed the life ban two years ago after Mr Williams lied about his qualifications.

“I stress that… I am not disagreeing with the decision ASIC made at the time,” tribunal Deputy President Bernard McCabe said.

“At that point, the statements before the delegate in conjunction with the evidence of the dishonesty were more than enough to justify the decision.

“But the case has evolved as the applicant’s insight into his own behaviour has changed.”