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General Cable reviews more possible FCPA violations, holds reserves steady

( May 9, 2016, 22:40 GMT | Official Statement) -- MLex Summary: General Cable, a Kentucky cable and wire manufacturer, said in a securities filing that it has identified more transactions with possible Foreign Corrupt Practices Act concerns that could potentially involve disgorgements of $33 million and has reported this to US authorities. It previously had identified other possible FCPA violations and had set aside reserves of $28 million in anticipation of fines. However, in its filing, General Cable said it had not yet set aside any reserve for the new FCPA-related conduct. Excerpt...

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