Close

Are you in compliance?

Don't miss out! Sign up today for our weekly newsletters and stay abreast of important GRC-related information and news.

×

Status message

Start your free, no obligation 5-day trial to continue exploring with full access.

How General Cable’s FCPA mess looks to the past and the future

Tom Fox | January 18, 2017

2016 was certainly one for the FCPA enforcement record books. There were 27 corporate enforcement actions with monetary fines and penalties of nearly $6 billion. This made 2016 the most active year on record. The end of 2016 brought several stunning FCPA enforcement actions including those involving Odebrecht and Teva Pharmaceuticals which largely contributed to this very large penalty amount.

However, there was one in the final week of 2016, involving General Cable Corp. that seemed to me to emphasize the continuity in FCPA compliance and enforcement, both reaching back into the past and portending the future. The General Cable matter was settled with the Justice Department via a non-prosecution agreement (NPA) and the SEC via a cease-and-desist order (General Cable Order). There was also the resolution of a civil charge by the SEC...

Buy this article for $49, or subscribe to Compliance Week for a month at $149 and get unlimited article access for 30 days.