McKinsey Faces Conflict Disclosure Deadline in Puerto Rico Work

McKinsey & Co. is in the spotlight as the consulting giant faces a deadline to disclose potential conflicts of interest in advising Puerto Rico‘s $120 billion restructuring.

A new law signed by President Biden on Jan. 20—the Puerto Rico Recovery Accuracy in Disclosures Act (PRRADA) —requires certain key professionals who worked on the island’s bankruptcy-like case to disclose if they have any previously hidden investments or business connections that could be considered a conflict of interest.

The May 16 deadline was set by a federal judge who also recently batted down efforts to limit the scope of disclosure requirements.

McKinsey, ...