FAIRFIELD, Conn. (AP) -- General Electric Co. says the Securities and Exchange Commission staff has notified the company it may recommend fines and other action for possible violations of securities laws.
GE said Friday that the notification concerns issues from several years ago over its accounting for derivatives formerly used to hedge the risk of interest-rate changes related to commercial paper and derivatives in which a fee was a part of the consideration for the derivative.
GE disagrees with the recommendation but says it is cooperating with the SEC.
(Copyright 2008 by The Associated Press. All Rights Reserved.)
To comment, the following rules must be followed:
Comments may be monitored for inappropriate content, but the station is under no legal obligation to do so.
If you believe a comment violates the above rules, please use the Flagging Tool to alert a Moderator.
Flagging does not guarantee removal.
Multiple violations may result in account suspension.
Decisions to suspend or unsuspend accounts are made by Station Moderators.
Questions may be sent to firstname.lastname@example.org. Please provide detailed information.