SEC HAS ANNOUNCED THAT CONSUMER LOAN COMPANY, WORLD ACCEPTANCE CORPORATION OF SOUTH CAROLINA, HAS AGREED TO PAY $21.7 MILLION TO RESOLVE CHARGES THAT IT VIOLATED THE FOREIGN CORRUPT PRACTICES ACT (FCPA)

A release on Mondo Visione on 6 August advised that, according to the SEC, between 2010 and 2017 the World Acceptance Corporation’s former Mexican subsidiary, WAC de Mexico SA de CV, paid more than $4 million in bribes to Mexican government officials and union officials to secure the ability to make loans to government employees and ensure that those loans were repaid in a timely manner.

https://mondovisione.com/media-and-resources/news/sec-charges-consumer-loan-company-with-fcpa-violations/

https://fcpablog.com/2020/08/06/world-acceptance-corporation-pays-sec-21-7-million-to-resolve-bags-of-cash-fcpa-offenses/

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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