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Violation Tracker Individual Record

Company: Prudential Securities, Inc.
Current Parent Company: Wells Fargo
Penalty: $100,000
Year: 2000
Date: March 9, 2000
Offense Group: financial offenses
Primary Offense: investor protection violation
Secondary Offense: price-fixing or anti-competitive practices
Violation Description: 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.
Level of Government: federal
Action Type: agency action
Agency: Financial Industry Regulatory Authority
Civil or Criminal Case: civil
HQ Country of Current Parent: USA
HQ State of Current Parent: California
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: banking
Source of Data: (click here)
Notes: 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).
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.