Dispatches: divisions at G20

G20 leaders have scrambled together a basic accord to toughen financial regulations, but the summit also sowed a fair degree of discord. In general, countries whose banks survived the recent financial crisis are taking the view that they have already proven the worth of their regulatory frameworks and so aren't willing to pay the price for others' errors. (The Australian)

UBS global chief executive Oswald Grubel, has criticised the government's proposed mining tax as simplistic and lacking credibility. (The Australian)

The FPA has predicted the federal government may restructure the fiduciary duty requirement under its Future of Financial Advice (FOFA) reforms and instead adopt an adviser conduct-style obligation. (Investor Daily)

The big banks are engaged in a race to cut long-dated fixed mortgage rates, as competition heats up for customers seeking more certainty over their repayments. (Sydney Morning Herald)