WASHINGTON — The Securities and Exchange Commission fined 13 firms for improperly selling Puerto Rico bonds in denominations below a $100,000 minimum set in a $3.5 billion offering earlier this year.

The SEC announced Monday that its investigation identified a total of 66 transactions in which dealer firms sold the Puerto Rico bonds to investors in amounts below $100,000, a violation of a Municipal Securities Rulemaking Board rule prohibiting such sales. The commission instituted administrative proceedings against the firms behind those improper sales: Charles Schwab & Co., Hapoalim Securities USA, Interactive Brokers LLC, Investment Professionals Inc., J.P. Morgan Securities, Lebenthal & Co., National Securities Corporation, Oppenheimer & Co., Riedl First Securities Co. of Kansas, Stifel Nicolaus & Co., TD Ameritrade, UBS Financial Services, and Wedbush Securities.

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