BBA, AFME and FOA have commented on those parts of FSA’s Consultation Paper 11/9 that deal with securitisation and the trading book. The associations make several technical comments, suggesting change or asking for clarification. On risk retention, they want FSA to take a “pragmatic” approach to a waiver policy in relation to risk retention requirements of other jurisdictions. (Source: Joint Industry Comments on FSA CP 11/9 – Securitisation and Trading Book Sections)