LETTER OF TRANSMITTAL Hon. ABRAHAM RIBICOFF, SUBCOMMITTEE ON REPORTS, NOVEMBER 11, 1975. Chairman, Senate Government Operations Committee Dirksen Senate Office Building, Washington, D.C. DEAR CHAIRMAN RIBICOFF: Two years ago the Committee on Government Operations issued a committee print, "Disclosure of Corporate Ownership," which documented the inadequacy and inaccuracy of Federal reporting requirements dealing with ownership of regulated companies. The study, later published as Senate Document 93-62, provided the basis for our "Corporate Disclosure" hearings in the 93rd Congress. Some improvements in the procedures of the regulatory agencies which collect ownership data have since been made. There are still major problems, many of which would be solved by promulgation and enforcement of uniform reporting requirements by the agencies. Such changes are now under active consideration by several of the commissions. For example, the Interstate Commerce Commission— which has already received written comments on model uniform reporting requirements-will begin informal hearings on the subject January 13, 1976. The ICC is inviting broad public participation in this proceeding. The Subcommittee has compiled pertinent data on corporate ownership and control, and analyzed it. This material will be helpful to the regulatory commissions, in their consideration of improved reporting, and to the Subcommittee in its oversight hearings next year. It will also be of value to the full committee and the Senate Commerce Committee in their joint study of regulatory reform. I therefore request that these materials be published as a committee print. Very truly yours, LEE METCALF, Chairman. SUBCOMMITTEE ON REPORTS, ACCOUNTING, AND MANAGEMENT LEE METCALF, Montana, Chairman JOHN L. MCCLELLAN, Arkansas BILL BROCK, Tennessee LOWELL P. WEICKER, JR., Connecticut VIC REINEMER, Staff Director E. WINSLOW TURNER, Chief Counsel GERALD STURGES, Professional Staff Member (II) |