The Securities and Exchange Commission's Regulation of Public Utility Holding Companies: An Evaluation of Commission Comments on a Critical Report : Report to the CongressGeneral Accounting Office, 1978 - 46 páginas |
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Página 11
... staff with respect to new problems arising in the fuel area , and the very extensive information available about the industry , whether or not subject to the Act , from filings under the securities laws and from other regulatory sources ...
... staff with respect to new problems arising in the fuel area , and the very extensive information available about the industry , whether or not subject to the Act , from filings under the securities laws and from other regulatory sources ...
Página 33
... staff reviews utility company financing proposals . In this regard , the Report questions the adequacy and breadth of the staff's review of such proposals . It should be noted , however , that the description at page 9 of the Report ...
... staff reviews utility company financing proposals . In this regard , the Report questions the adequacy and breadth of the staff's review of such proposals . It should be noted , however , that the description at page 9 of the Report ...
Página 34
... staff review of an initial appli- cation and of inquiries made to the applicant company , it is not uncommon for companies to amend their applications to include additional information requested by the staff and to make significant ...
... staff review of an initial appli- cation and of inquiries made to the applicant company , it is not uncommon for companies to amend their applications to include additional information requested by the staff and to make significant ...
Página 35
... staff's review of financing proposals , Chapter 2 concludes with a number of subsections discussing certain provi- sions of the Act relating to business practices , controlling influences , and size , 27 / and concludes that none of ...
... staff's review of financing proposals , Chapter 2 concludes with a number of subsections discussing certain provi- sions of the Act relating to business practices , controlling influences , and size , 27 / and concludes that none of ...
Página 36
... staff in an effort to discover such activity . With respect to the possi- bility of political or other irregular payments by companies subject to the Act , there can be no serious question that the Commission would be con- cerned about ...
... staff in an effort to discover such activity . With respect to the possi- bility of political or other irregular payments by companies subject to the Act , there can be no serious question that the Commission would be con- cerned about ...
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Términos y frases comunes
American Electric Power assets billion Commission commented Commission conduct Commission's administration Commission's regulatory approach Commonwealth Edison companies in registered Company Act Rel Comptroller General's Report Congress consumers controlling influences detrimental Detroit Edison directed the Commission effectively electric utility industry Exchange Commission exempt companies exempt holding companies exemption under Section exemptive provisions Federal Power Commission field investigations gas and electric geographic location granted exemptions holding company abuse Holding Company Act holding company systems integrated system intercompany transactions intrastate investments in fuel investors issue jurisdiction nonutility Northeast Utilities operating companies operating utility panies Power & Light public interest public utility company Public Utility Holding public utility system recommended registered holding company registered systems regulated companies reorganization SEC Docket Section 11 Section 11(b Section 30 Securities and Exchange service companies staff standards of Section statutory substantially supra tion Union Electric Company utility holding companies utility operations utility service
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Página 22 - States, or in a contiguous foreign country; and (C) The continued combination of such systems under the control of such holding company is not so large (considering the state of the art and the area or region affected) as to impair the advantages of localized management, efficient operation, or the effectiveness of regulation.
Página 17 - ... (1) such holding company, and every subsidiary company thereof which is a public-utility company from which such holding company derives, directly or indirectly, any material part of its income, are predominantly intrastate in character and carry on their business substantially in a single State...
Página 16 - Commission shall find necessary to limit the operations of the holding-company system of which such company is a part to a single integrated public-utility system, and to such other businesses as are reasonably incidental, or economically necessary or appropriate to the operations of such integrated publicutility system...
Página 17 - States contiguous thereto; (3) such holding company is only incidentally a holding company, being primarily engaged or interested in one or more businesses other than the business of a public-utility company and (A) not deriving, directly or indirectly, any material part of its income from any one or more subsidiary companies, the principal business of which is that of a publicutility company...
Página 14 - Act included : (1) Inadequate disclosure to investors of the information necessary to appraise the financial position and earning power of the companies whose securities they purchase; (2) the issuance of securities against fictitious and unsound values; (3) the overloading of operating companies with debt and fixed charges, thus tending to prevent voluntary rate reductions; (4) the imposition of excessive charges upon operating companies for various services such as management...
Página 15 - ... supervision of construction, and the purchase of supplies and equipment ; (5) the control by holding companies of the accounting practices, and rate, dividend, and other policies of their operating subsidiaries so as to complicate or obstruct State regulation; (6) the control of subsidiary holding companies and operating companies through disproportionately small investment; and (7) the extension of the holding company systems without relation to economy of operations or to the integration and...
Página 9 - Act of 1935, the Commission regulates interstate public utility holding company systems engaged in the electric utility business or retail distribution of gas.
Página 17 - ... (4) such holding company is temporarily a holding company solely by reason of the acquisition of securities for purposes of liquidation or distribution in connection with a bona fide debt previously contracted or in connection with...
Página 5 - If it appears that any question exists as to whether the exemption of any such company may be detrimental to the public interest or the interest of investors or consumers, the Commission may notify such holding company to that effect by registered mail.
Página 16 - ... the system. The SEC can determine what action, if any, must be taken by registered holding companies and their subsidiaries to comply with Act requirements. The SEC' can apply to federal courts for orders compelling compliance with Commission directives.