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Monday, September 28, 2015

Puerto Rico News Digest For September 28, 2015


Users served by the Carraízo water reservoir could see  a return to 24-
hour water rationing in about 20 days, if its water levels continue to
drop at the same pace that has been seen over the last week, about nine
centimeters a day. Carraízo's level stands at 38.32 meters, about a meter
and a half away from entering Phase I rationing. Recent rains have bene-
fited the La Plata reservoir, while largely bypassing Carraízo. Water ra-
tioning for the area was only lifted about a week ago. The Carraízo reser-
voir serves about 160,000 users in the towns of Trujillo Alto and Caroli-
na, as well as parts of San Juan, Canóvanas and Gurabo. The other reser-
voir that serves the bulk of the San Juan metro area, La Plata, saw its le-
vel decrease by three centimeters overnight. La Plata users are still under
a rationing plan.


From Yahoo! News:

A Puerto Rico couple has been charged with prostitution, incest and human
trafficking in a case authorities say involved their four young children. Police
said Friday that the 30-year-old suspects are accused of prostituting their 11-
year-old daughter in front of the other children who range in age from 6 to 9
years old. The couple was identified as Kenneth Martinez and Tanya Figueroa...


From The San Juan Daily Star:

The Puerto Rico Bar Association announced earlier this week that it has
sued the commonwealth Treasury Department to stop the imposition of a
4 percent tax on legal services tax that goes into force on Oct 1. The asso-
ciation says the new tax goes against current laws that protect the access
to Justice. La Fortaleza Chief of Staff Víctor Suárez said there is a bill
pending approval at the Legislature that would amend Law 72 (Tax Re-
form) pending approval but such changes were technical ones to avoid
double taxation...


From Caribbean Business:

Experts in finance and investment, securities regulation and public policy
came together for the North American Securities Administrators Associa-
tion’s (NASAA) 98th Annual Conference, themed “Regulation for the A-
ges,” Sept. 27-29 in San Juan’s Caribe Hilton Hotel. The three-day confe-
rence is co-chaired by Damaris Mendoza, director of the Securities Regu-
lation and Registration Division within the Puerto Rico Financial Instituti-
ons Commissioner’s Office (OCIF by its Spanish acronym), and Joseph
Borg, director of the Alabama Securities Commission. Featured speakers
include Arthur Levitt, the longest-serving chair of the U.S. Securities and
Exchange Commission (SEC), and Chris Farrell, financial commentator
and author...

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