The Financial Industry Regulatory Authority said it’s examining trading in the $3.5 billion of general-obligations that Puerto Rico sold this month.
The self-governing U.S. territory sold the debt March 11, in the biggest-ever high-yield offering for the $3.7 trillion municipal market. The issue gave the island, which was cut to junk last month, enough cash to pay bills through June 2015, as officials try to revive a shrinking economy.
