SEC puts GE's derivatives use under formal scrutiny
The Securities and Exchange Commission (SEC) has started a formal investigation into General Electric's use of derivatives.
The original financial misstatements, which GE announced in May, meant that its earnings since 2001 had to be revised upward by a total of $381 million over that period.
Failure to correctly account for derivative-related fees on a number of interest rate and currency swaps, alongside other errors were responsible for the misstatement, GE said.
The SEC had been informally investigating GE's use of derivatives since January.
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe
You are currently unable to print this content. Please contact info@risk.net to find out more.
You are currently unable to copy this content. Please contact info@risk.net to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@risk.net
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@risk.net