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以下是美國證監會的最新處罰通告

中文翻譯僅供參考，英文原文為準

通用電氣同意就違反披露規定支付2億美元罰款

即將發佈2020-312

華盛頓特區，2020年12月9日-

美國證券交易委員會今天宣布，通用電氣公司已同意支付2億美元的罰款，以結清因其電力和保險業務披露失敗而產生的費用。在2017年和2018年，由於電力和保險業務面臨的挑戰向公眾披露，GE的股價下跌了近75％。 

根據SEC的命令，通用電氣在描述其GE Power利潤時誤導了投資者，卻沒有說明2016年的四分之一利潤和2017年的前三個季度的近一半利潤來自其先前成本估算的下降。該處罰令還發現，通用電氣未能告知投資者其報告的當前工業現金收款增加是以未來幾年的現金為代價的，並且主要來自通用電氣電力與通用電氣金融服務業務通用電氣資本之間的內部應收款銷售。此外，該外罰令還指出，出從2015年到2017年，通用電氣降低了其長期護理保險組合的索賠預計成本，並且未能告知投資者，在長期健康保險索賠成本上升之際，降低未來保險負債估計所導致的相應不確定性。

「投資者有權對公司的實質性經營成果有一個準確的了解，」執法部門主管斯蒂芬妮·阿瓦基安（Stephanie Avakian）說。「通用電氣在多個業務中屢次披露失敗，嚴重誤導了投資者關於其如何產生報告的收益和現金增長以及其保險業務的潛在風險。」

美國證交會波士頓地區辦事處執行副總監約翰·杜根（John T. Dugan）說：「上市公司必須非常謹慎地遵守披露法律，以為其投資者謀福利。」 「像GE這樣的公司，諸如部門間交易之類的複雜性以及對未來成本和收入的估計的依賴，必須確保它們提供給投資者的信息不會引起誤解。」

SEC的命令認為GE違反了證券法的反欺詐，報告，披露控制和會計控制規定。在不承認或否認該命令的發現的情況下，GE同意停止並制止將來違反所指控條款的行為，支付2億美元的罰款，並就其保險和權力中的某些會計和披露控制向SEC報告為期一年的情況。業務。

SEC正在進行的調查由SEC波士頓地區辦事處的Michael Vito，Michael Franck，Patrick Noone，Mark Albers，Celia Moore，Rua Kelly，Colin Forbes，Kerry Vasta，Ryan Murphy和David D’Addio進行，並由其監督波士頓地區辦事處的John Dugan和執行部總會計師Matthew Jacques。

General Electric Agrees to Pay $200 Million Penalty for Disclosure 

Violations

FOR IMMEDIATE RELEASE
2020-312

Washington D.C., Dec. 9, 2020 —

The Securities and Exchange Commission today announced that General Electric Co. (GE) has agreed to pay a $200 million penalty to settle charges for disclosure failures in its power and insurance businesses.  In 2017 and 2018, GE』s stock price fell almost 75% as challenges in its power and insurance businesses were disclosed to the public. 

According to the SEC』s order, GE misled investors by describing its GE Power profits without explaining that one-quarter of profits in 2016 and nearly half in the first three quarters of 2017 stemmed from reductions in its prior cost estimates.  The order also finds that GE failed to tell investors that its reported increase in current industrial cash collections was coming at the expense of cash in future years and came primarily from internal receivable sales between GE Power and GE』s financial services business, GE Capital.  In addition, the order finds that from 2015 to 2017, GE lowered projected costs for claims against its long-term care insurance portfolio and failed to inform investors of the corresponding uncertainties resulting from lower estimates of future insurance liabilities at a time of rising costs from long-term health insurance claims.

「Investors are entitled to an accurate picture of a company』s material operating results,」 said Stephanie Avakian, Director of the Division of Enforcement.  「GE』s repeated disclosure failures across multiple businesses materially misled investors about how it was generating reported earnings and cash growth as well as latent risks in its insurance business.」

「Public companies must take great care to follow disclosure laws for the benefit of their investors,」 said John T. Dugan, Associate Director of Enforcement in the SEC』s Boston Regional Office.  「Companies like GE, with complexities such as interdivisional transactions and reliance on estimates of future costs and revenues, must ensure that the information they provide to investors is not misleading.」

The SEC』s order finds that GE violated the antifraud, reporting, disclosure controls, and accounting controls provisions of the securities laws.  Without admitting or denying the order』s findings, GE agreed to cease and desist from future violations of the charged provisions, pay a $200 million penalty, and report for a one-year period to the SEC regarding certain accounting and disclosure controls in its insurance and power businesses.

The SEC』s ongoing investigation is being conducted by Michael Vito, Michael Franck, Patrick Noone, Mark Albers, Celia Moore, Rua Kelly, Colin Forbes, Kerry Vasta, Ryan Murphy, and David D』Addio of the SEC』s Boston Regional Office, and supervised by John Dugan of the Boston Regional Office and Matthew Jacques, Chief Accountant, Division of Enforcement.

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