Violation Tracker Individual Record
NASD Regulation, Inc. censured and fined Prudential Securities, Inc. $100,000 for improper conduct in connection with its potentially anti-competitive efforts to become lead manager in the underwriting of an initial public offering (IPO). The violative conduct took place while Prudential was competing with another firm for the lead manager position. In settling this matter, Prudential neither admitted nor denied NASD Regulation's findings.
FINRA is a securities industry self-regulatory body authorized by the federal government. This case was handled by its predecessor, the National Association of Securities Dealers (NASD).