Pressure on Puhca

The US General Accounting Office is to investigate whether the SEC has been lax in its oversight of the Public Utility Holding Company Act. How will this affect firms subject to Puhca requirements? By Paul Lyon

Cinergy has asked the US Securities & Exchange Commission (SEC) to increasethe limit on the amount it may spend on its unregulated businesses. The Ohio-basedenergy company has sought SEC approval because, as as a registered holding companyunder the Public Utility Holding Company Act (Puhca), Cinergy must abide by limitsset by the SEC on its unregulated activities.

The SEC has yet to consider Cinergy’s request but the regulator is increasinglyunder pressure, from congressmen and pressure

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