SEC probing United Technologies jet engine sales in China

• United Technologies (UTX -1%) discloses that the SEC is investigating one of its non-employee sales reps who sold jet engines in China.
• UTX says the SEC issued a subpoena seeking documents related to disclosures of sales of its Pratt & Whitney engines and International Aero Engines.
• UTX says the probe follows its voluntary disclosures to U.S. regulators, which resulted in the company suspending payments to the salesperson, triggering a lawsuit and an arbitration claim.