The SEC Fines Thirteen Brokerage Firms over Puerto Rican Bond Sales
The Securities & Exchange Commission (SEC) Fines Thirteen Brokerage Firms over Sales of Puerto Rican Bonds. The firms fined include Charles Schwab, JPMorgan Securities and TD Ameritrade, accusing them of failing to protect retail investors in sales of high-risk bonds issued by Puerto Rico’s debt-strapped government. Many observers believe this PR bond and close-end bond fund scandals are just getting warmed up. The full article may be found here.