Defendant Name: General Cable Corporation

Defendant Type: Public Company
SIC Code: 3357
CUSIP: 36930010

Initial Case Details

Legal Case Name In the Matter of General Cable Corporation
First Document Date 29-Dec-2016
Initial Filing Format Administrative Action
File Number 3-17754
Allegation Type Issuer Reporting and Disclosure
AAER 3840

Violations Alleged

Exchange Act
• Rule 12b-20
• Sec 13(a)
• Rule 13a-1
• Rule 13a-11
• Rule 13a-13
• Sec 13(b)(2)(A)
• Sec 13(b)(2)(B)

Resolutions

First Resolution Date 29-Dec-2016
Headline Total Penalty and Disgorgement $6,500,000

Related Documents:

34-79702 29-Dec-2016 Administrative Proceeding
Order Instituting Cease-and-Desist Proceedings Pursuant to Section 21C of the Securities Exchange Act of 1934, Making Findings, and Imposing a Cease-and-Desist Order
On December 29, 2016, SEC issued an administrative order against General Cable Corporation ("GCC"). According to SEC, from 2008 to the second quarter of 2012, "GCC materially misstated its financial statements due to improper inventory accounting at its Brazil subsidiary that went undetected due to the company's internal accounting controls failures."
2016-283_3-17754 29-Dec-2016 Press Release--Administrative Proceeding
Wire and Cable Manufacturer Settles FCPA and Accounting Charges
The Commission stated "General Cable's overseas subsidiaries made improper payments to foreign government officials for a dozen years to obtain or retain business in Angola, Bangladesh, China, Egypt, Indonesia, and Thailand. General Cable's weak internal controls also failed to detect improper inventory accounting at its Brazilian subsidiary, causing the company to materially misstate its financial statements from 2008 to the second quarter of 2012." 

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