We have reviewed a new consultation paper from the International Organization of Securities Commissions (IOSCO) on planks to go into the global regulatory framework now being erected for asset securitization.  While largely a data dump, the IOSCO paper does note serious reservations about U.S. exemptions to risk retention, reservations that will pressure U.S. regulators to take a firm stand on this contentious issue if retained in the final IOSCO standards.

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