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Cemex FCPA investigation widens

Jaclyn Jaeger | April 17, 2018

Cemex, a Mexican multinational building materials company, disclosed last month in a securities filing that the U.S. Department of Justice has requested from it information regarding an ongoing Foreign Corrupt Practices Act investigation.

First, a word of background: In December 2016, CEMEX received subpoenas from the Securities and Exchange Commission seeking information to determine whether violations of the FCPA occurred concerning a cement plant project, being built by CEMEX Colombia, in the Department of Antioquia in the municipality of Maceo, Colombia (the “Maceo Project”). “These subpoenas do not mean that the SEC has concluded that CEMEX or any of its affiliates violated the law,” the company stated in the securities filing.

According to CEMEX, internal audits and investigations by CEMEX and CEMEX Latam had raised questions about payments relating to the...

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