The U.S. Securities and Exchange Commission is investigating allegations that Andrew Liveris, chairman and chief executive officer of industrial giant Dow Chemical Co (DOW.N), misused company funds for personal benefit, according to people familiar with the matter. It is not clear whether the SEC investigation is limited to the spending allegations or is broader in scope. Also unclear is whether regulators have ordered Dow, Liveris or other company officials to hand over documents or testify as part of the government’s investigation.