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 […]
Frauds & Scandals
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 […]
UBA Says N41 Billion NITEL in Liquidation Fraud Involving Bank’s Principal Officers False
August 3, 2020/NSE The attention of United Bank for Africa (UBA) has been drawn to false reports circulating in the media alleging that UBA and some of its principal officers have been indicted in a NGN41 Billion fraud involving NITEL in Liquidation. We would like to use this medium to […]
