PHOENIX -- The Securities and Exchange Commission Associate Director, Paula Dubberly announced at the ASF 2005 conference Monday that it had established an ABS pilot program, allowing issuers to privately submit deal documentation to the Commission and receive advice on issuer compliance, ahead of the March 8, Reg AB effective date. The pilot program will give issuers approximately 10 months to learn about the compliance requirements ahead of the Jan. 1, 2006 compliance deadline. In related news, participants in a general attendee poll indicated that the majority of those questioned, 42%, described their knowledge of the Reg ABS compliance requirements as being "minimally familiar."

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