P.R. Laws tit. 10, § 887
(a) The Commissioner at his/her discretion:
(1) May make such public or private investigations within or without Puerto Rico as he/she deems necessary to determine if any person has violated or is about to violate any provision of this chapter, or any or regulation or order hereunder, or to aid in the enforcement of this chapter, or in the promulgation of regulations and forms hereunder,
(2) may require or allow any person to present a statement in writing, under oath or otherwise, as determined by the Commissioner, as to all the facts and circumstances concerning the matter to be investigated.
(b) For the purposes of any investigation or proceeding pursuant to the provisions of this chapter, the Commissioner or any official designated by him/her may administer oaths and affirmations, subpoena witnesses, compel their attendance, take evidence, and require the production of any books, papers, correspondence, memoranda, agreements, or other documents or records which the Commissioner may deem relevant or substantial to the investigation.
(c) In case of contumacy or refusal to obey a subpoena issued to any person, the Court of First Instance, upon petition of the Commissioner, may issue an order compelling the person to appear before the Commissioner or his/her designated official, to produce documentary efficiency, if so ordered, or to contribute evidence in connection to the matter under investigation or dispute. Failure to comply with the court order may be punished by the court as contempt of court.
(d) No person is excused from attending and testifying or from producing any document or record before the Commissioner, or from obeying a subpoena issued by the Commissioner or his/her designated official or any proceeding instituted by the Commissioner, on the grounds that said testimony or evidence (whether documentary or of any other nature) required by the Commissioner may tend to incriminate him/her or subject him/her to a penalty or forfeiture; but no individual may be prosecuted or submitted to penalty or forfeiture for or by reason of any transaction, matter or anything else concerning the issue for which he/she has been compelled to testify or produce evidence (documentary or of any other nature), after having claimed his/her privilege against self-incrimination. However, the individual under testimony is not exempt from prosecution and punishment for perjury or contempt committed during testimony.
(e) The Commissioner may issue subpoenas and request that orders be issued for their due compliance in Puerto Rico, at the petition of an agency or administrator regulating the securities industry in another state if the activity which constitutes the alleged violation for which a subpoena is petitioned would constitute a violation of this chapter, had it occurred in Puerto Rico.
History —June 18, 1963, No. 60, p. 128, § 407; Aug. 11, 1996, No. 114, § 19.