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GE says funding arm receives Wells notice from SEC

BOSTON (Reuters) - A funding arm of General Electric Co GE.N this month received notification that the U.S. Securities and Exchange Commission is considering a civil action against it, the second-largest U.S. company by market capitalization said in an SEC filing on Friday.

GE Funding Capital Market Services on July 21 received a “Wells notice” indicating the SEC staff is considering recommending action against the company over the way certain former employees bid for municipal securities, the company said.

It said it is one of several companies to have received Wells notices in connection with the matter.

Reporting by Scott Malone; editing by Carol Bishopric

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