IOSCO has submitted to FSB its policy recommendations on securitisation, as part of one of the workstreams on the shadow banking sector assigned to it. On incentive alignment, IOSCO shows preference for globally harmonised risk retention measures. Concerning transparency, it concludes that issuers should provide enough detailed disclosure for investors to conduct their own stress tests and scenario analysis. Related to this, IOSCO will promote standardisation of disclosures through asset-level templates. Additionally, it points at other aspects that must be dealt with from prudential, accounting and mortgage underwriting perspectives. (Source: Global Developments in Securitisation Regulation Final Report)