GE settles SEC accounting probe for $200M
By 
Kyle Brasseur2020-12-10T17:36:00
General Electric agreed to pay $200 million to settle charges brought by the Securities and Exchange Commission regarding a series of accounting violations at its power and insurance businesses.
Related articles
-
Article
Former WageWorks CEO, CFO settle SEC accounting violation charges
The Securities and Exchange Commission charged two former executives of WageWorks with making false and misleading statements and omissions that resulted in the improper recognition of $3.6 million in revenue.
-
ArticleGE reserves $100M for potential SEC accounting enforcement
General Electric has set aside $100 million relating to a potential SEC enforcement action that could encompass several areas of alleged accounting failures.
-
ArticleAuditor change: GE dumps KPMG for Deloitte
General Electric announced the appointment of Deloitte as its new independent auditor for fiscal year 2021, ending a relationship with KPMG that dates back to 1909.
More from Regulatory Enforcement
-
PremiumDiscover, in allowing misclassification problem to fester, pushed compliance aside
Federal banking regulators have laid the blame for Discover Financial Services charging merchants $1 billion in excessive credit card fees over 17 years squarely at the feet of company executives.
-
News BriefCFPB drops $95M enforcement action against Navy Federal, without explanation
The Consumer Financial Protection Bureau has dropped a $95 million enforcement action against Navy Federal Credit Union, the latest regulatory pullback by the agency under President Donald Trump.
-
ArticleFCA drops ‘naming and shaming’ approach – except in ‘exceptional circumstances’
The UK’s financial regulator has had a rough ride over the past couple of years as its strategy to “name and shame” firms it opened investigations into was widely slammed by the industry and lawmakers over concerns that companies could be unfairly maligned.