Sec Fines 13 Firms Over Sales Of Puerto Rico Bonds

Business Heds Index, Seattle Post-Intelligencer: Business
Mon, 11/03/2014 - 2:30pm

WASHINGTON (AP) — Federal regulators have fined 13 brokerage firms, including 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. Retail investors usually buy securities in smaller amounts, so the rule is designed to ensure that high-risk "junk" bonds are sold only to investors who can purchase bigger quantities and shoulder greater risk.

Topics: washington ap federal charles schwab jpmorgan securities td ameritrade puerto rico retail firms sales bonds investors high-risk

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Sec Fines 13 Firms Over Sales Of Puerto Rico Bonds

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