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GE receives "'Wells notice" in hedge accounting probe

by : Reuters

Date : Fri, 05 Sep 2008 20:59:55 GMT





CHICAGO (Reuters) - General Electric Co lt;GE.Nsaid on Friday it had been notified by U.S. regulators they were considering filing a civil complaint against the company following a three-year probe into GE 's use of hedge accounting for derivatives.The company said the U.S. Securities had issued a so-called "Wells notice " on Thursday, advising GE the agency is "considering recommending to the SEC that it bring a civil injunctive action against GE for possible violations of the securities laws. "GE said it was continuing to cooperate with the agency but disagreed with its latest move.(Reporting by James Kelleher; Editing by Andre Grenon) lt;br gt;(c) Reuters 2008. All rights reserved. Republication or redistribution of Reuters content, including by caching, framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters and the Reuters sphere logo are registered trademarks and trademarks of the Reuters group of companies around the world.



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