Daily Dispatches: fin planners back commissions ban

An outright ban on commissions has been voted by financial planners as the most effective option for improving their industry, despite the Ripoll inquiry declining to recommend such a drastic move. (The Australian)

The Australian arm of the world's largest fixed-income fund manager, Pacific Investment Management Company (Pimco) has warned the current optimism in financial markets is "excessive" and predicts a prolonged post-financial crisis correction phase will slow global growth in 2010. (Sydney Morning Herald)

ANZ National Bank now has full ownership of ING NZ. In September ANZ announced it would be acquiring ING Group's 51 per cent shareholding in ING New Zealand and ING Australia on top of the 49 per cent it already owned. (Business Day )

Investors in Perpetual's $1.7bn mortgage funds who chose to redeem their holdings have so far received 91 cents in the dollar, after the global financial crisis triggered a rush of redemptions. (The Age)