Basic Search  |  Summaries  |  Advanced Search

Violation Tracker Individual Record

Company: Prudential Equity Group
Current Parent Company: Prudential Financial
Penalty: $270,000,000
Year: 2006
Date: August 28, 2006
Offense Group: financial offenses
Primary Offense: investor protection violation
Secondary Offense: securities issuance or trading violation
Mega-Scandal: Market Timing Abuses
Violation Description: Prudential Equity Group, formerly known as Prudential Securities, agreed to pay $270 million to Massachusetts, New Jersey, New York and NASD to resolve allegations of improper market timing. This was part of a larger $600 million settlement involving the federal government; see the Violation Tracker entry at (click here)
Level of Government: state
Action Type: agency action
Agency: Multistate Attorneys General Case
Civil or Criminal Case: civil
HQ Country of Current Parent: USA
HQ State of Current Parent: New Jersey
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: insurance
Source of Data: (click here)
Source Notes: If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.