GE Says It Has Received ‘Wells Notice’ From SEC Relating to Accounting Investigation — Update | MarketScreener

Federal securities regulators have warned General Electric Co. the company could face a civil-enforcement action over its accounting for a legacy insurance business, adding a fresh hurdle to efforts to turn around the once-mighty manufacturer.

The industrial giant said in a securities filing Tuesday that it received the so-called Wells notice on Sept. 30 over the company’s accounting for reserves related to an insurance business it has been trying to wind down for years.

via GE Says It Has Received ‘Wells Notice’ From SEC Relating to Accounting Investigation — Update | MarketScreener.