General Electric Co.’s private- equity investment arm plans to explore the sale of about $1 billion in fund stakes as it seeks to comply with rules limiting risk-taking by banks, according to three people with knowledge of the matter.
The private-equity investment arm of General Electric Co. plans to explore the sale of about $1 billion in fund stakes as it seeks to comply with rules that limit risk-taking by banks, according to three people familiar with the situation.
General Electric Co., whose Connecticut headquarters is about 35 minutes by car from the site of the Newtown school massacre, said it tightened rules against providing consumer financing to firearms retailers.
Three former bankers with a General Electric Co. unit that sold investment contracts to state and local governments were indicted for conspiring to profit at taxpayers’ expense by rigging bids, showing the broadening scope of a Justice Department investigation of municipal finance.
General Electric Co.’s finance unit and American International Group Inc. opted against fighting a decision by regulators that they pose potential risks to the economy, clearing the way for stricter oversight.