To amend PROMESA to include certain ethics provisions to provide for the disqualification of certain advisors to the Financial Oversight and Management Board, and for other purposes.
About This Bill
Committee
Latest Action · March 22, 2023
Read twice and referred to the Committee on Energy and Natural Resources.
Financial Oversight and Management Board Integrity Act of 2023
This bill disqualifies certain third-party advisory or consulting firms with a potential conflict of interest from advising a Financial Oversight and Management Board. Such a board has been established for Puerto Rico.
Specifically, a board must establish rules to disqualify any third-party advisory or consulting firm from advising the board for any period during which the firm has a client, or provides consulting services to, an individual, corporation, or other business entity that is competing for or performing a contract with the territorial government, the performance of which is within the board's jurisdiction.
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