“According to (Columbia Law School professor John) Coffee, Peru violated the Securities Act of 1933 in October when it issued a €1.1 billion ($1.2 billion) bond, telling investors in offering documents that the country was ‘not involved in any disputes with its internal or external creditors.’”
— The Wall Street Journal
Stand up for the citizens who count on you to protect them from fraudulent investments, and preserve the integrity of sovereign bond markets:
Sanction Peruvian officials for securities fraud – In offering documents for a $1.2 billion sovereign bond issued in 2016, Peru violated U.S. securities laws by failing to disclose its agrarian debt obligations and related litigation. Instead, Peru assured potential investors it was “not involved in any disputes with its internal or external creditors.” The truth is that over 450 lawsuits have been filed over the agrarian bond debt, which may total billions of dollars.
Force Peru to fully disclose its debt in future prospectuses – Investors in Peru sovereign bonds deserve—and have the legal right—to know about the country’s other debt obligations. This information bears directly on Peru’s willingness to repay its sovereign bonds.