The struggling Puerto Rican municipal bond market is forcing the Financial Industry Regulatory Authority Inc. (FINRA) to hire more arbitrators in Puerto Rico, after they were swamped with over 200 investor lawsuits.
After Detroit filed bankruptcy last summer, Puerto Rico's municipal bond market has been struggling. Investors are afraid of Puerto Rico's municipal debt of over $70 billion causing the S&P Index to drop 15.24% over the past year. This has opened the floodgates on claims against the broker/dealers who sold the Puerto Rico municipal bonds. UBS was one of the largest sellers of municipal bonds in Puerto Rico.
FINRA is now actively recruiting arbitrators in Puerto Rico to handle the high number of cases. FINRA can also send arbitrators from Florida or other nearby states.
Fort Lauderdale-based, Soreide Law Group, and attorney Lars Soreide, are actively filing cases against broker/dealers for losses sustained by Puerto Rican bond investments. Call (888) 760-6552 if you invested in Puerto Rico Bond Funds.
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