The Firm has the preeminent securities practice in Puerto Rico. Our substantial SEC experience and knowledge of the Puerto Rico tax and regulatory environment has allowed us to play an important role in the development of the Puerto Rico capital markets. We have particular experience in helping clients resolve complex issues and tailor securities products to the unique requirements of the Puerto Rico market. PMA represents major U.S. and Puerto Rico investment banking firms, securities broker-dealers, investment companies, corporations and others, in all aspects of capital markets transactions, including the issuance, sale and trading of securities. The Firm advises several publicly-held corporations that are based in Puerto Rico in capital market transactions and compliance with their obligations under the federal securities laws, as well as broker-dealer clients with respect to regulatory and compliance issues. The Firm has also taken a leading role in the development of the local investment company industry, serving as counsel to two of the three locally based family of investment companies. The Firm also advises clients on a wide range of corporate governance issues.