FINRA arbitration claims surge on Puerto Rico bond losses, worsened by Hurricane Maria
By: Richard Satran, Thompson Reuters Regulatory Intelligence
Arbitration claims filed with the Financial Industry Regulatory Authority have surged from customers who lost money in the fiscal crisis that hit Puerto Rico debt over the past half-decade. The increase in part reflects a resumption of FINRA hearings after a hurricane crippled the U.S. island territory's infrastructure and led to a halt in processing cases.
The number of arbitration claims jumped 45 percent in the first quarter, according to FINRA statistics. The total of 1,152 new...
