NU Online News Service, Dec. 19, 2003, 12:10 p.m. EST – Prudential Financial Inc., Newark, N.J., says several federal and state regulatory agencies are asking it for information about the purchase and sale of variable annuities as well as information about the purchase and sale of mutual fund shares.[@@]
The agencies seeking information about the annuity and fund operations include the U.S. Securities and Exchange Commission, the New York Stock Exchange, the NASD, the New York attorney general’s office, the New Jersey Bureau of Securities, the U.S. attorney for Massachusetts and the Massachusetts Securities Division, according to a report Prudential has filed with the SEC.
Prudential “is cooperating with all such inquiries and is conducting its own internal review,” Prudential says in the report.
Massachusetts securities regulators started the wave of inquiries Nov. 4, by filing an administrative complaint against several former employees of a Prudential branch office in Boston.
On the same date, the SEC filed a similar civil action against several former Prudential employees in a Massachusetts federal court, Prudential says.