Representatives from the securitization industry and from the International Organization of Securities Commissions’ (IOSCO) task force on unregulated markets and products discussed the recently published Consultation Report on Global Developments in Securitization Regulation during a roundtable discussion hosted by the IOSCO. The July 2 meeting was at IOSCO’s headquarters in Madrid, Spain.
The consultation paper, which the Financial Stability Board (FSB) requested for, is part of the commission’s efforts to strengthen oversight and regulation of the shadow banking system.
“Measures in this area deal with risk retention, improvement in transparency and the standardization of product disclosure, all of which were discussed by participants at the roundtable,” a statement from the IOSCO said.
The report, open for public comment until Aug. 6, also stressed the significance of securitization as a “market-based source of finance.” It also focused on cross-border issuance’s importance in broadening markets and supporting real economy growth.