{"id":4753,"date":"2017-07-07T13:59:54","date_gmt":"2017-07-07T18:59:54","guid":{"rendered":"https:\/\/www.investorlawyers.com\/blog\/?p=4443"},"modified":"2022-03-11T13:38:53","modified_gmt":"2022-03-11T19:38:53","slug":"sec-investigates-morgan-stanley-barclays-bankers-puerto-rico-bond-sales","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/sec-investigates-morgan-stanley-barclays-bankers-puerto-rico-bond-sales\/","title":{"rendered":"SEC Investigates Morgan Stanley and Barclays Bankers Over Puerto Rico Bond Sales"},"content":{"rendered":"

\t\t\t\tBarclays (BARC) and Morgan Stanley (MS) were underwriters when the island sold $3.5 billion of bonds in 2014. According to Bloomberg<\/em>, brokerage firm records submitted to the Financial Industry Regulatory Authority (\u201cFINRA\u201d) indicate that the U.S. Securities & Exchange Commission\u2019s (\u201cSEC\u201d) staff is recommending that the SEC file an enforcement case against Barclays bankers James Henn and Luis Alfaro. The two men are under investigation for allegedly violating fair dealing in selling Puerto Rico bonds. They are also under investigation for alleged violations of securities rules and municipal bond rules as they pertain to misrepresentation, deception and fraud related to the securities. <\/p>\n

Additionally, Bloomberg<\/em> reports the SEC\u2019s staff wants to issue a sanction against Morgan Stanley Managing Director Charles Visconsi and his ex-colleague Jorge Irizarry over disclosures that Puerto Rico made in documents that were sent to investors. The staff is interested in whether the broker-dealer adequately examined representations that were made by the island\u2019s government. Visconsi and Irizarry reportedly have not been accused of any intentional misconduct. <\/p>\n

In other Puerto Rico bond fraud news, the Puerto Rico Electric Power Authority (\u201cPREPA\u201d) has joined the island in filing bankruptcy protection. PREPA is currently overburdened with $9 billion of debt. <\/p>\n

Continue Reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Barclays (BARC) and Morgan Stanley (MS) were underwriters when the island sold $3.5 billion of bonds in 2014. According to Bloomberg, brokerage firm records submitted to the Financial Industry Regulatory Authority (\u201cFINRA\u201d) indicate that the U.S. Securities & Exchange Commission\u2019s (\u201cSEC\u201d) staff is recommending that the SEC file an enforcement case against Barclays bankers James […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3756,3752,3787,3922,4039],"tags":[],"class_list":["post-4753","post","type-post","status-publish","format-standard","hentry","category-barclays-capital","category-financial-firms","category-morgan-stanley","category-municipal-bonds","category-puerto-rico-bond-funds"],"yoast_head":"\nSEC Investigates Morgan Stanley and Barclays Bankers Over Puerto Rico Bond Sales — Investor Lawyers Blog — July 7, 2017<\/title>\n<meta name=\"description\" content=\"Barclays (BARC) and Morgan Stanley (MS) were underwriters when the island sold $3.5 billion of bonds in 2014. 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