GM to Pay $1M SEC Fine for Ignition Switch

Jan. 19, 2017

Jan. 19, 2017—General Motors (GM) announced on Wednesday that it will pay a civil penalty of $1 million as part of its settlement with the U.S. Securities and Exchange Commission (SEC), following the SEC’s investigation into the automaker’s 2014 ignition switch recalls.

The automaker will consent to an administrative SEC Cease and Desist Order, without admitting or denying any wrongdoing.

The SEC settlement does not call into question any of GM’s current or prior financial statements or its disclosures. Also, no material weakness or significant deficiency was found by the SEC.

Since the ignition switch recall, the automaker has worked to resolve ignition switch issues with customers and regulators at both the state and federal level.

Subscribe to our Newsletters

Latest in Home

Endeavor Business Media
2025_fenderbender_award_logo
Recognize a deserving collision repair shop owner or operator with your nomination.
March 14, 2025
Adobe Stock 88061344
Asking Why
Teaching your team the healthy way to ask “why” will start to set the foundation of a colossal shift in thinking for operations and repair-planning.
Jan. 3, 2025
Bendpak
Ergo-Jet
The BendPak Ergochair Ergo-Jet, No. 5160112, features TPR wheels that provide shock absorption, cushioning, floor protection, and quiet rolling. The wheels are also resistant ...
Dec. 2, 2024