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
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 https://violationtracker.goodjobsfirst.org/violation-tracker/-prudential...

Level of Government: 
state
Action Type: 
agency action
Agency: 
Multistate Attorneys General Case
Civil or Criminal Case: 
civil
HQ Country of Parent: 
USA
HQ State of Parent: 
New Jersey
Ownership Structure of Parent: 
publicly traded
Major Industry of Parent: 
financial services
Specific Industry of Parent: 
insurance
Source Notes: 
If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Parent company note: 
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.