Puerto Rico may see higher utility rates after 1st Circ. ruling
Puerto Rico’s Financial Oversight and Management Board (FOMB) said it intends to introduce changes to the plan of adjustment to allow for payments to PREPA...
Bradley Wendt
Senior Consultant
Bradley Wendt joined CRA in 2014. His prior experience and positions include managing director at a multinational financial services company, co-founder and president of the leading wealth management trading platform, and senior advisor to the Under Secretary of the US Treasury. Mr. Wendt leads CRA’s financial dispute engagements for fixed-income capital markets, municipal securities, new issues, broker-dealer regulatory compliance, rating agencies, bankruptcies, credit analyses, and public-private partnerships.
Mr. Wendt’s CRA dispute engagements include: bondholder claims on $15 billion of defaulted structured securities, “ability-to-pay” $655 million federal court judgment, fraud allegations regarding $3 billion of securities for federal public-private partnerships, alleged deficient investor disclosure for municipal new issue, independent compliance review for $450 million derivative product portfolio, alleged breach of fiduciary and unauthorized trading by insurance company CFO, and investment banking custom and practice. Mr. Wendt has provided expert opinions and consultation in federal and foreign courts, state courts, and domestic arbitrations.
In 2018, Mr. Wendt temporarily left CRA to accept Secretary Steven Mnuchin’s two-year appointment as Senior Advisor to the Under Secretary of the US Treasury. As a US Treasury Senior Advisor, he led Treasury’s fiscal engagement with Puerto Rico’s leadership on all issues central to the Commonwealth’s $75 billion municipal securities bankruptcy and $40 billion Hurricane Maria disaster recovery disbursements. Mr. Wendt directly interfaced with all U.S. federal agencies, including: The White House, Office of Management and Budget, and the Securities and Exchange Commission.
Prior to joining CRA, Mr. Wendt created and led an infrastructure capital markets group, advising governments, corporations, and instrumentalities on structured municipal bond financings. Additionally, Mr. Wendt directed a financial services company’s regulatory compliance for all infrastructure derivative products, oversaw his group’s proprietary trading, and ran the affiliated $40 billion short-term, tax-free trading and remarketing desk.
Over the course of his career, Mr. Wendt led over 500 internal credit reviews and compliance meetings for fixed income products and municipal bond offerings. His discussions with and presentations to issuers culminated in $100 billion of fixed income capital markets new issue securities. Mr. Wendt was honored by Institutional Investor with its Deal of the Year award for innovative capital markets financings.
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Bradley Wendt