Defendant Name:
GE Funding Capital Market Services, Inc.
Defendant Type:
Subsidiary of Public Company
Public Company Parent:
General Electric Company
SIC Code:
3511
CUSIP:
36960410
Initial Case Details
Legal Case Name
SEC v. GE Funding Capital Market Services, Inc.
First Document Date
23-Dec-2011
Initial Filing Format
Civil Proceeding
Case Number
11-cv-07465
Allegation Type
Municipal Securities & Public Pensions
Federal District Court
New Jersey, District of New Jersey
Violations Alleged
•
Sec 17(a) (Not specified)
Resolutions
First Resolution Date
23-Dec-2011
Headline Total Penalty and Disgorgement
$24,901,762
Related Documents:
Complaint for Violations of the Federal Securities Laws
In the Complaint the SEC alleged: "This case involves various fraudulent bidding practices by GEFCMS [GE Funding Capital Market Services, Inc.] involving the temporary investment of proceeds from the sale of tax-exempt municipal securities in certain reinvestment instruments by state and local governmental entities in the United States ('Municipalities')."
2011-276
23-Dec-2011
Press Release--Civil Action
SEC Charges GE Funding Capital Market Services With Fraud Involving Municipal Bond Proceeds; Firm Agrees to Pay $70 Million in Settlement with SEC and Others
On December 23, 2011, the SEC announced that it, "charged GE Funding Capital Market Services with securities fraud for participating in a wide-ranging scheme involving the reinvestment of proceeds from the sale of municipal securities."
SEC Charges GE Funding Capital Market Services With Fraud Involving Municipal Bond Proceeds; Firm Agrees to Pay $70 Million in Settlement with SEC and Others
On December 23, 2011, the SEC announced that it, "charged GE Funding Capital Market Services with securities fraud for participating in a wide-ranging scheme involving the reinvestment of proceeds from the sale of municipal securities."
Final Judgment as to Defendant GE Funding Capital Market Services, Inc.
On January 23, 2012, Federal District Judge William J. Martini entered final judgment against GE Funding Capital Market Services, Inc., pursuant to the SEC and GE Funding Capital Market Services, Inc.'s consent.
Final Judgment as to Defendant GE Funding Capital Market Services, Inc.
On January 23, 2012, Federal District Judge William J. Martini entered final judgment against GE Funding Capital Market Services, Inc. pursuant to the consent of GE Funding Capital Market Services, Inc.
33-9297
01-Feb-2012
Administrative Proceeding
Order Under Section 27A(b) of the Securities Act of 1933 and Section 21E(b) of the Securities Exchange Act of 1934, Granting Waivers of the Disqualification Provisions of Section 27A(b)(1)(A)(ii) of the Securities Act of 1933 and Section 21E(b)(1)(A)(ii) of the Securities Exchange Act of 1934
On February 1, 2012, the SEC granted the request of General Electric Company, General Electric Capital Services, Inc., GE Capital Corporation, and any current and future affiliates for a waiver from the disqualification provisions of Section 27A(b)(1)(A)(ii) of the Securities Act of 1933 and Section 21E(b)(1)(A)(ii) of the Securities Exchange Act of 1934. The three companies are indirect parent companies of GE Funding Capital Market Services, Inc. The potential disqualification related to a final judgment entered by the federal district court for the District of New Jersey on January 23, 2013 enjoining "GE Funding CCMS from violating, directly or indirectly, Section 17(a) of the Securities Act."
33-9298
01-Feb-2012
Administrative Proceeding
Order Under Rule 602(e) of the Securities Act of 1933 Granting a Waiver of the Disqualification Provisions of Rules 602(b)(4) and 602(c)(2)
On February 1, 2012, the SEC published an Order Under Rule 602(e) of the Securities Act of 1933 Granting a Waiver of the Disqualification Provisions of Rules 602(b)(4) and 602(c)(2).
court_doc7_11-cv-07465
14-Mar-2013
Court Docket Document
Order
- Joint motion seeking to amend Corrected Attachment A to the January 23, 2012 Final Judgment
as to Defendant GE Funding Capital Market Services, Inc. is granted
