To amend PROMESA to include certain ethics provisions to provide for the disqualification of certain advisors to the Financial Oversight and Management Board, and for other purposes.

HR 1702 amends PROMESA to add ethics rules for advisors to Puerto Rico's Financial Oversight and Management Board (FOMB). It disqualifies third-party advisory firms from advising the FOMB if they represent clients competing for or working on government contracts overseen by the Board. Firms must certify they have no such conflicts, and knowingly providing false information carries legal penalties. The Board must refer violations to federal prosecutors for further action. This directly affects consulting firms seeking to advise the FOMB on Puerto Rico's government contracts.