Daily Dispatches: UBS appoints vice chairman

UBS has named veteran banker Geoff Davis as one of its first vice chairmen in Australia, as the investment bank looks to build ties to the domestic corporate advisory market. (The Australian)

The Rudd government has gone beyond recommendations contained in last year's landmark Ripoll review of the financial planning industry, with independent advisers set to be caught out by a crackdown on commission-based payments. (Sydney Morning Herald)

Australia should resist any push by the G20 to impose a tax on financial institutions that are too big to fail, and say "no" to shackling our banks with a leverage ratio or flexible capital ratios to smooth out the economic cycle. (The Australian)

Bank of Queensland is buying Sydney-based equipment financer CIT Group. (Sky News)