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 3-17755
Allegation Type Foreign Corrupt Practices Act

Violations Alleged

Exchange Act
• Sec 13(b)(2)(A)
• Sec 13(b)(2)(B)
• Sec 30A

Resolutions

First Resolution Date 29-Dec-2016
Headline Total Penalty and Disgorgement $55,281,897

Related Documents:

34-79703 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 proceeding against General Cable Corporation. According to SEC, between 2003 and 2015, the Company "GCC's subsidiaries made improper payments of approximately $19 million to foreign government officials in Angola, Thailand, China, Indonesia, Bangladesh, and Egypt, generating illicit profits over $51 million on sales to state-owned enterprises."
2016-283_3-17755 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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