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Senate Democrats want SEC fraud investigations in Puerto Rico

Joe Mont | July 6, 2016

A cadre of top Senate Democrats has asked the Securities and Exchange Commission “to investigate potential fraud and illegal conduct, which may have contributed to Puerto Rico’s debt crisis.”

“Several colleagues have joined me in a letter to you and the Commission urging you to be a cop on the beat of Wall Street, but also on the streets of San Juan,” Sen. Bob Menendez (D-N.J.) told SEC chair Mary Jo White during a recent Senate Banking Committee hearing.

Sens. Elizabeth Warren (D-Mass.), Chuck Schumer (D-N.Y.), Kirsten Gillibrand (D-N.Y.), Bernie Sanders (D-Vt.), Jeff Merkley (D-Ore.) and Richard Blumenthal (D-Conn.) co-signed the letter. They called upon the SEC to probe possible municipal bond market manipulation, conflicts of interest, trading...

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