Puerto Rico

Treasury Secretary Jack Lew and Department of Health and Human Services Secretary Sylvia Burwell are urging Congress to pass legislation to help Puerto Rico before the commonwealth is forced to confront more serious health care and economic challenges.

The Financial Industry Regulatory Authority ordered UBS to hand over $18.2 million for misleading a family of investors in Puerto Rico closed-ended funds, the second highest fine for individual investors against UBS in these cases.

Puerto Rico government and federal lenders to the Puerto Rico Aqueduct and Sewer Authority have extended their forbearance periods for the authority.

The Puerto Rico Energy Commission announced approval of a final electrical rate increase 21% lower than the provisional rate increase it had approved in June.

Puerto Rico Gov. Ricardo Rosselló proposed new labor laws to improve the commonwealth’s employment and economy.

Puerto Rico Gov. Ricardo Rosselló asked the Oversight Board to extend the stay on debt-litigation and the deadline for completing the commonwealth’s fiscal plan.

Two bond insurance subsidiaries of Assured Guaranty Ltd. have made interest payments to holders of insured general obligation and other bonds after Puerto Rico and certain of its instrumentalities failed to pay on Jan. 3, 2017.

Puerto Rico creditors presented arguments in federal court in Boston as they asked a judge to lift a stay on litigation over the island’s debt, even as an official in San Juan said the government there would seek to have it extended.

New Puerto Rico Gov. Ricardo Rosselló is taking steps to immediately cut the government’s spending and revenues.

A U.S. Congressional Research Service report may undermine the position on Puerto Rico’s status held by one of the island’s two main political parties, according to an opposition party leader.