The corporate regulator has banned an employee of the Commonwealth Bank's financial planning division for 18 months for creating false documents for clients' files.
It said Rebecca Locksley of Merewether was the servicing planner of banned Commonwealth Financial Planning Ltd (CFPL) advisor Jade Zaicew from 2011 to 2012.
Mr Zaicew was suspended in April 2014 from providing financial services for seven years.
Australian Securities and Investments Commission (ASIC) said while Mr Zaicew was suspended, Ms Locksley prepared and backdated around 40 documents, including records of advice, to give the impression they had been prepared at the time of the client transactions.
They also included fictional conversations between Mr Zaicew and his clients to give the impression that he gave advice to the clients in accordance with the law.
The ban comes on the day that ASIC launched an online financial advisors' register on its MoneySmart website.
The register will allow consumers to find out information about their advisor, such as employment history and record of breaches before taking their advice.
ASIC said the register will also give employers a greater ability to monitor the actions of financial advisers.
Deputy chairman Peter Kell said ASIC will now move to include financial advisor qualifications, training and professional membership details to be on the register by the end of May 2015.
"There is a small number of advisers who are not yet on the register," he said.
"While late appointments will continue to be accepted, advisers who are not on the register may potentially lose clients."
Financial Services Council chief executive Sally Loane said the register is important to rebuild trust in the financial advisors.
"It is imperative that Australians can trust the system to ensure they get the quality advice and products they need to build secure futures," she said.
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