While a major regulatory concern of the past few years – the risk-retention rule – has yet to be resolved, the industry is squaring its shoulders for new challenges: the so-called Volcker Rule, a proposal on conflicts of interest in securitization and new bank capital requirements regarding market risk. These projects could do “enormous or irreparable damage to the industry, and entire sectors of the industry could be lopped off,” said Tom Deutsch, executive director of the American Securitization Forum, during the ASF conference last week in Las Vegas. Only about one eighth of the regulatory requirements...