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GE Delayed SEC Probe Disclosure

General Electric delayed last week, according to a Reuters report, the disclosure of a formal Securities and Exchange Commission probe until after its third-quarter financial statements.

"We have continued to voluntarily provide documents and information to the SEC Staff, and we intend to continue to cooperate fully with its investigation," GE spokesman Russell Wilkerson says, calling the request for documents by the SEC a "common next step" related to the use of hedge accounting for derivatives GE disclosed in May.

Wilkerson said that on Wednesday the company did not disclose the probe`s elevation to a formal investigation earlier because "it is part of an ongoing process, so it was appropriate to disclose this development in the normal course, which is the next filing date."