GE to face civil action on securities violations

FAIRFIELD, Conn., Sept 6 (AP) General Electric (GE) Company said Friday it has been informed that the Securities and Exchange Commission (SEC) may recommend fines and other action for possible violations of securities law related to accounting changes the company made.brGE said in a regulatory filing that the notification, called a Wells notice, is related to issues dating to several years ago concerning GE's accounting for certain derivatives used for hedging interest rate risk and other transactions.brGE said it disagrees with a recommendation for civil action and is cooperating with the SEC.brThe conglomerate says the change was made in its accounting for profits in 2002 on some aftermarket spare parts, primarily in its aviation business, transactions in 2003 and earlier involving financial intermediaries in its rail business and other GE units.