World Acceptance reports SEC order of investigation related to Mexico probe
In a regulatory filing, World Acceptance states: "As previously disclosed, the company is conducting an internal investigation of its operations in Mexico, focusing on the legality under the U.S. Foreign Corrupt Practices Act of 1977, as amended, and certain local laws of certain payments related to loans, the maintenance of the company's books and records associated with such payments, and the treatment of compensation matters for certain employees. The internal investigation continues to address whether and to what extent improper payments, which may violate the FCPA and other local laws, were made approximately between 2010 and 2017 by or on behalf of WAC de Mexico to government officials in Mexico relating to loans made to unionized employees. The company has voluntarily contacted the U.S. Securities and Exchange Commission and the U.S. Department of Justice to advise both agencies that an internal investigation is underway and that the company intends to cooperate with both agencies. The SEC has issued a formal order of investigation."