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GE Settles with SEC Over Perks for Welch

Benefits included the use of an $11 million New York apartment and bodyguard protection during a book tour aimed at promoting his autobiography.

> > The SEC last week settled enforcement proceedings against the GE. GE was charged with failing to fully describe the substantial benefits it had agreed to provide Welch under an "employment and post-retirement consulting agreement." Under the settlement, GE agreed to cease and desist from violating the proxy-solicitation and periodic reporting provisions of the federal securities laws.
Source: CFO


Published:2004-09-27
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