FERC OKs Three Banks To Buy Energy Shares

Law360, New York (October 19, 2007, 12:00 AM EDT) -- In a flexing of its recently enhanced regulatory muscle, the Federal Energy Regulatory Commission Thursday granted three prominent investment banks official permission to purchase securities of electric utility companies.

Goldman Sachs Group Inc., Morgan Stanley and Legg Mason Inc. each received FERC's blanket authorization upon FERC's finding that such trading “will facilitate investment in the utility industry” and is not likely to affect the ownership or control of the traded companies.

“The proposed transactions will have no adverse effect on competition because the transactions will not...
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