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General Cable Launches FCPA Probe in Four Countries

Jaclyn Jaeger | September 24, 2014

General Cable disclosed this week in a regulatory filing with the Securities and Exchange Commission that it has launched an internal investigation into potential violations of the Foreign Corrupt Practices Act concerning potential improper payments made in Angola, Portugal, Thailand, and India.

In a Form 8-K, dated Sept. 22, the maker of copper, aluminum, and fiber optic wire and cable products said it’s investigating “certain commission payments involving sales to customers of our subsidiary in Angola. The review has focused upon payment practices with respect to employees of public utility companies, use of agents in connection with such payment practices, and the manner in which the payments were reflected on our books and records.”

Additionally, the company said it has determined that certain employees in its Portugal and Angola subsidiaries “directly and indirectly made...

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