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RCED-83-118 1 (1983-08-30)

handle is hein.gao/gaobabefo0001 and id is 1 raw text is: REffBICTED Z Not to be released outside .e -enerat Accounting Offe except o the basis of specific approval Ltile Cffice of Congresiona Reiations - BY THE COMPTROLLER GENERIAL Rjqj Report To The RELEASED Honorable Tom Corcoran Ho.use Of Representatives IIIIIIIIIIIIIIIIIIII O F THE UNITED STATES ,o41244 Analysis Of SEC's Recommendation To Repeal The Public Utility Holding Company Act The Securities and Exchange Commission (SEC) recommended to the Congress in December 1981 that the Public Utility Holding Company Act of 1935 be repealed. The act is intended to pro- tect the public, investors, and consumers from abuses associated with the control of electric and gas utility companies through holding compa- nies. SEC believes that the act has accomplished its basic purpose, duplicates other Federal and State regulations, and is no longer needed to prevent recurrence of past abuses. GAO identified regulatory gaps that would occur if the act is repealed and found that some State regulatory officials believe they are unprepared to deal with the consequences of the act's repeal. GAO recommends that the Congress, in consid- ering repealing or amending the act, address, through the appropriate congressional commit- tees, the potential impacts that regulatory gaps at the Federal level would have on State regula- tion and ultimately on consumers. GAO/RCED-83-118 crou ,,. AUGUST 30, 1983

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