Did you lose money in Puerto Rico bonds with RBC Capital Markets, LLC financial advisor Janine Killmer (CRD# 1753296)? Killmer has been registered with RBC Capital Markets, LLC in Florham Park, New Jersey since 2001.
Puerto Rico suffers from long-term financial and economic deficiencies that rendered its credit increasingly more speculative. The deterioration of Puerto Rico’s financial condition culminated in its debt being downgraded to junk status or speculative (below investment grade). For the past several years, Puerto Rico has been struggling with compounding debt and economic decline. As a result, the value of Puerto Rico’s municipal tax-free bonds has considerably fallen. Since September 2013, when the steep decline in Puerto Rico bond values began, investors holding these bonds have suffered massive losses. In May 2017, Puerto Rico filed for bankruptcy protection from creditors in what is being described as the largest municipal bankruptcy filing in history.
Killmer has been the subject of one customer complaint, according to his CRD report:
August 2018. “Claimant alleges unsuitable investments in uninsured Puerto Rico bonds from approximately 2011 to 2018.” The customer is seeking $100,000 in damages and the case is currently pending.
Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, RBC Capital Markets, LLC may be liable for investment or other losses suffered by Killmer’s customers.
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