Advisers lodging details on the new adviser register must include up to five qualifications or training courses they have completed.

They will also be required to list the five most relevant professional associations they belong to.

Advisers must submit this information between May 23 and 30.

All other information must be lodged with the Australian Securities and Investments Commission (ASIC) between March 9 and March 30.

Many register requirements are straightforward, such as an adviser’s date of birth, licence number and product authorisation.

The entity controlling an adviser’s financial services licence must also be recorded.

“The purpose of this provision is to make the context of the advice more transparent,” an explanatory note on the register regulations says. “Currently, many financial advice firms are controlled by firms that issue financial products, and consumers are often not aware of a relationship between an advising firm and particular financial products.

“This lack of transparency about the context of the advice can contribute to a lack of trust in the financial advice industry.”

Advisers will have 30 days to lodge changes to their details once the register is running from April 1.

ASIC has powers to amend entries if it thinks they are incorrect.