Defendant Name: General Cable Corporation

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

Document Reference: 34-79702

Document Details

Legal Case Name In the Matter of General Cable Corporation
Document Name 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
Document Date 29-Dec-2016
Document Format Administrative Proceeding
File Number 3-17754
AAER 3840
Allegation Type Issuer Reporting and Disclosure
Document Summary 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."

Disgorgement & Penalty Information

Resolutions
Cease and Desist Order
Other Compliance Related Undertaking
Cooperation Before the Resolution
Remedial Acts or Efforts Before the Resolution
Self Reporting to SEC
Monetary Penalties:

Civil Penalty

Individual:     $6,500,000.00 Shared:    

Related Documents:

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." 

Related Actions:

SEC v. Mathias Francisco Sandoval Herrera, Maria D. Cidre, and Jose Antonio Miranda Gonzalez