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Report: SEC probes Boeing over 737 Max disclosures


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Report: SEC probes Boeing over 737 Max disclosures

The U.S. Securities and Exchange Commission is in the early stages of an investigation into whether Boeing Co. sufficiently disclosed to investors the problems regarding its 737 Max aircraft, Bloomberg News reported, citing sources familiar with the matter.

The SEC is also reviewing Boeing's accounting to determine whether the estimated impact of the aircraft's issues is reflected by the company's financial statements, according to the report's sources

The SEC probe might not lead to an enforcement case, Bloomberg News noted, adding that the regulator and Boeing have yet to comment on the report.

Boeing is already facing a criminal investigation by the U.S. Justice Department following the October 2018 Lion Air crash and the Ethiopian Airlines crash in March that resulted in 346 deaths and a global grounding of the 737 Max jets.

During a House subcommittee hearing May 15, the acting head of the Federal Aviation Administration criticized Boeing for not providing more adequate information about an automated anti-stall system that has been blamed for the two fatal crashes.