General Electric confirmed today that US federal securities regulators are investigating its employment and post-employment contracts with former chief executive Mr Jack Welch.
Mr Welch has come under fire for receiving lavish benefits before and after his retirement.
The announcement comes hours after Mr Welch, the legendary executive who led the sprawling conglomerate for 21 years before retiring a year ago, said he had given up free use of company planes, a company apartment and other generous benefits in his retirement agreement after facing withering criticism since the perks were disclosed.
In its own statement, GE said the request from the Securities and Exchange Commission was received on Friday, a day after the GE board had already voted to modify Mr Welch's post-employment contract to withdraw most of his perks.
Welch will now only receive an office and administrative support - benefits that GE said have been provided for decades to all retired GE chairmen and vice-chairmen.
GE said it would co-operate fully with the SEC request.