Regulatory Alerts2024-03-22
Interim Consent Order Regarding Sigue Corporation
State Money Transmission Regulators from numerous jurisdictions issued an Interim Consent Order requiring Sigue Corporation to immediately cease and desist from all money transmission activities due to its deteriorating financial condition and failure to satisfy approximately $4.9 million in outstanding transmission liabilities. The order mandates that Sigue cooperate with a multi-state investigation into its wind-down process, preserve all books and records, and provide necessary information to facilitate consumer bond claims for unpaid obligations. By consenting to this order, Sigue waives its right to a hearing or appeal while regulators reserve all rights to enforce statutes and pursue further administrative actions.
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