What is a ‘SEC Genre U-3A-2’
SEC Form U-3A-2 is a now obsolete form that was required to be filed with the Custodianships and Exchange Commission (SEC), made by any holding company wishing to claim freedom from the Public Utilities Company Holding Act (PUCHA) of 1935. The PUCHA of 1935 was repealed with the trade of the Energy Policy Act of 2005.
BREAKING DOWN ‘SEC Form U-3A-2’
SEC Form U-3A-2 is one of a series of bodies the SEC required companies to file under the PUHCA of 1935. Others take in SEC Form U-3A3-1, which was a 12-month statement filed by firms claiming immunity from the PUCHA of 1935.
SEC Form U-3A-2 contained the organization’s name, state of format, current location, and nature of the business. A basic description of all of the properties and trappings, as well as the distribution of energy, is also required. This form was categorized annually before March 1. The exemption fell under be in control U-3A-2 of the PUCHA of 1935.
SEC Form U-3A-2 and the Public Utilities Company Holding Act of 1935
SEC Form U-3A-2 was forsake of the Public Utilities Company Holding Act of 1935, which regulated utilities. As chiefly of the act, it allowed states to regulate utilities and prevented unregulated businesses from carry oning in regulated businesses. Thus, non-utilities could no longer own utility assemblies. As well, utilities couldn’t operate across multiple parts of the outback.
The PUCHA of 1935 came about after the Wall Street Failure of 1929 and following Great Depression, which led to the collapse of various utilities. The PUCHA of 1935 earned utility regulation possible. Companies owning 10% or more of a utility had to rota with the SEC, providing detailed financials and other documents.
The SEC was also in safe keeping of approving non-utility holding companies that would be separate from administered utility businesses. These holding companies registered with the SEC and could lone own a single integrated system, or file for an exemption.
The Energy Policy Act of 2005 manufactured the Public Utility Holding Company Act of 2005, repealing the PUHCA of 1935.
Strength Policy Act of 2005
The Energy Policy Act of 2005 was passed in Aug. 2005, going into punch in Feb. 2006. The act repealed the PUCHA of 1935, moving primary oversight specialist for utilities from the SEC to the Federal Energy Regulatory Commission. This counts approving non-utility company investments in utilities and mergers and acquisitions. The doorstep for required consent for selling or leasing jurisdictional utility facilities or the support or lease of a utility generation facility was moved from $50,000 to $10 million.