U.S. Senator Asks SEC to Examine Puerto Rico Debt Negotiations
- Letter is the latest in a string of requests to the SEC
- Puerto Rico is set to default on general obligations Friday
Puerto Rico Nears Next Big Default
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A top ranking Republican U.S. Senator wants the Securities and Exchange Commission to examine the U.S. Treasury Department’s possible involvement in creditor negotiations over restructuring of Puerto Rico debt.
Senator Orrin Hatch, the head of the finance committee, is asking the SEC to investigate the information shared between some investors, Puerto Rico and U.S. government officials about the island’s fiscal state. He also requested the agency look into any potential illegal activity by brokers, advisers or underwriters.