Puerto Rico News Digest For October 7, 2015

TOURIST HELD ON SEX TRAFFICKING CHARGE

From The San Juan Daily Star:

"A male tourist from Wisconsin was arrested by federal authorities for
sex trafficking after U.S. Magistrate Judge Marcos López authorized a
criminal complaint charging him with one count of Attempted Sex Tra-
fficking of Children, U.S. Attorney for the District of Puerto Rico Rosa
Emilia Rodríguez-Vélez announced Monday..."

SEARCH FOR ANSWERS IN EL FARO SINKING

From Caribbean Business:

"The 41-year-old El Faro was scheduled to be retired from Caribbean
duty and retrofitted in the coming months for service between the West Co-
ast and Alaska, said Phil Greene, another Tote executive. The El Faro and
its equally aged sister vessel were being replaced on the Jacksonville-to-Pu-
erto Rico run by two brand-new ships capable of carrying much more cargo
and emitting less pollution..."

PR BANKRUPTCY BILL ADDS CO-SPONSORS

From Reuters:

"A bill to allow Puerto Rico's distressed public agencies to access
Chapter 9 bankruptcy laws has drawn several Democratic co-sponsors but
is not a partisan move, the U.S. commonwealth's representative in Congress
said on Tuesday. Puerto Rico, with $72 billion debt..."

PUERTO RICO ENDURES RECORD HEAT

From Yahoo! News:

"Puerto Rico is facing a record-breaking heat wave this month amid an
ongoing drought. The National Weather Service said the first five days
of October are the  warmest in the history of the U.S. territory for the
month since record-keeping began..."

Puerto Rico News Digest For September 28, 2015

NEVERMIND: CARRAIZO RATIONING COULD RETURN

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.

COUPLE CHARGED WITH PROSTITUTION, INCEST

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...

BAR ASSOCIATION SUES TREASURY OVER TAX

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...

NASAA HOLDS CONFERENCE IN SAN JUAN

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...