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There’s still work to be done on some of the post-crisis reforms to securitization rules and money market fund rules, says the International Organization of Securities Commissions (IOSCO) in a pair of new reports.

IOSCO, the umbrella group of global securities regulators, published updates to its reviews of the implementation of certain reforms to the rules for money market funds and securitizations that were introduced in response to the global financial crisis of 2008-09.

The report on money market fund reforms finds that most jurisdictions have implemented the fair value approach to fund portfolio valuation, but says that progress on measures to enhance liquidity management is “less advanced and less even.”

In particular, the report says, there’s work to be done in countries introducing requirements for funds to establish sound know-your-client  policies, and in establishing rules requiring funds to hold a minimum amount of liquid assets.

The securitization report finds that progress “remains mixed” in implementing reforms designed to improve incentive practices in securitization transactions.

The reports also note that a number of new regulations have to take effect in certain jurisdictions, indicating that the implementation of IOSCO’s recommendations in these areas may improve in the years ahead.