The Australian Securitisation Forum will oppose the adoption in Australia of a recommendation from the International Organisation of Securities Commissions that originators of securitised assets retain a long-term economic exposure to the securitisation.On Friday IOSCO's technical committee issued final recommendations for regulatory reform of the securitisation market. The recommendations cover disclosure, reporting, independence of service providers and investor suitability.ASF chief operating officer Alex Sell said his organisation supported the majority of the recommendations but would argue in its meetings with the Australian Securities and Investments Commission that originators already had enough "skin in the game" and would not benefit from regulation that set a uniform level of economic interest.Sell said: "The problem that IOSCO identified, where there was a misalignment of interests in the securitisation value chain, was a problem in the US and to a lesser extent in Europe."There was none of that in Australia.  We have full recourse mortgages, LMI cover, originators continue to service the loans in most cases and they hold the subordinated tranches of the securitisation trusts."We have reminded ASIC that those are long-standing features of our market. When it comes to this question of skin in the game, we hope they will not adopt a one-size-fits-all approach."Among IOSCO's recommendations is a call for disclosure of all verification and risk assurance practices that have been undertaken by the underwriter, sponsor and originator.Service providers would be required to maintain the currency of investor reports and provide a greater level of detail on such matters as asset pool performance.Regulators have been asked to review investor suitability requirements, such as whether retail investors should be allowed to hold RMBS and CDS. They have also been asked to look at ways to improve investor education.Sell said the ASF was continuing with the self-regulatory work it started last December when it kicked off a project in concert with the American Securitisation Forum, the Securities Industry and Financial Markets Association and the European Securitisation Forum.That work includes developing measures to create greater uniformity in pricing and valuation methodologies and provide greater pricing transparency.