Risk.net

SEC puts GE's derivatives use under formal scrutiny

According to GE, the US regulator issued a formal order of investigation in August, allowing it to compel GE to hand over relevant documents.

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.

  • LinkedIn  
  • Save this article
  • Print this page  

You must be signed in to use this feature.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: