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As of press time Thursday, the EITF did not reach a consensus on the issue of the permitted activities of a QSPE in issuing beneficial interests. The staff will seek additional input from EITF members at the next meeting, which would probably be held in January according to Marty Rosenblatt of Deloitte & Touche. They would also propose alternatives that adhere to the principle that the permitted activities of a QSPE need to be significantly limited and entirely specified in the governing documents.

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