Frauds & Scandals

SEC Charges Consumer Loan Company With FCPA Violations

August 6, US SEC The Securities and Exchange Commission today announced that World Acceptance Corporation, a South Carolina-based consumer loan company, has agreed to pay $21.7 million to resolve charges that it violated the Foreign Corrupt Practices Act (FCPA). The SEC’s order finds that from at least December 2010 through […]

SEC Charges Affiliated Advisers for Misrepresentations About Payment for Order Flow Arrangements

August 6, 2020/US SEC The Securities and Exchange Commission today filed settled charges against affiliated registered investment advisers WBI Investments Inc. and Millington Securities Inc. for making material misrepresentations to clients about compensation Millington received in an institutional payment for order flow arrangement for routing client orders to certain brokerage […]