On December 9, 2005 the Washington office authored an Alert Memorandum entitled, “FERC Issues Final Rule On PUHCA Repeal, Exempting Passive Investments And Other Transactions But Imposing Holding Company Notification Requirements.” The four-page memo discusses FERC’s final rule, which implements EPAct 2005’s repeal of the Public Utility Holding Company Act of 1935 and its replacement by books and record authorities implemented by FERC (referred to as PUHCA 2005). The following briefly outlines FERC’s proposed rule, including the new exemptions, the requisite filing of notifications of holding company status and the applications for exemptions or waivers.