General Motors Co. said Wednesday it will pay a $1 million civil penalty as part of a settlement with the U.S. Securities and Exchange Commission related to the regulator’s investigation into the automaker’s ignition switch recall.
The Detroit automaker said it is consenting to an administrative cease and desist order with the SEC and is doing so without admitting or denying wrongdoing. The company said the settlement with the SEC “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.”
