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Violation Tracker Individual Record

Company: Pruco Securities, LLC
Current Parent Company: Prudential Financial
Parent at the Time of the Penalty Announcement:  subscribe to see this data field
Penalty: $900,000
Year: 2017
Date: April 20, 2017
Offense Group: financial offenses
Primary Offense: investor protection violation
Violation Description: Pruco agreed to pay a $750,000 fine and $150,000 in costs in settlement of allegations it failed to reasonably supervise its representatives and had an unsuitable system in place for calculating variable annuity transactions, resulting in inaccurate information for customers and a failure to provide information to the Department in a timely manner.
Level of Government: state
Action Type: agency action
Agency: Illinois Secretary of State-Securities
Civil or Criminal Case: civil
Facility State: Illinois
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.