“GE Puts SEC Long-Term Care Insurance Probe Behind It,” by Allison Bell, ThinkAdvisor 

 

 

Quote:

“General Electric Company is moving to resolve a U.S. Securities and Exchange Commission investigation over what the company did with bad news. GE has agreed to pay a $200 million penalty to the SEC and to give the agency regular reports, for one year, on efforts to improve accounting and disclosure controls, officials said. The investigation involved what GE said about earnings at its GE Power business, and how the company handled deteriorating forecasts about the future performance of its long-term care insurance (LTCI) reinsurance business.”

LTC Comment:

We had such high hopes in those heady days when GE bought AMEX Life. Then again when the conglomerate bought LTC, Inc. Oh, how the mighty have fallen.