- The Financial Industry Regulatory Authority is looking into trading in the $3.5B worth of bonds that Puerto Rico auctioned earlier this month.
- The probe comes amid concerns that the debt is being improperly sold to individual investors.
- In its prospectus, Puerto Rico said it would issue the paper in minimum denominations of $100,000, with the idea being to discourage smaller investors. However, the notes have been changing hands in amounts as low as $5,000.
Finra investigates trading in new Puerto Rico bonds
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