On January 30, 2020, World Acceptance Corporation, a consumer loan finance business based in South Carolina, reported in a regulatory filing that it was in discussions with the US Securities and Exchange Commission to resolve a previously disclosed investigation into the company’s Mexico operations, which were discontinued in July 2018. The SEC investigation began in June 2017, after the company voluntarily disclosed to the SEC and the Department of Justice the results of an internal investigation into whistleblower allegations of potential violations of the FCPA. World Acceptance said that it had proposed a resolution framework to the SEC in January 2020 and had accrued $8 million on December 31, 2019 for potential costs to settle the matter.
February 5, 2020