On August 28, 2006, the SEC instituted settled administrative proceedings against Prudential Equity Group, LLC. According to the SEC: "This matter concerns a fraudulent market timing scheme perpetrated by PSI registered representatives (collectively, the 'Representatives') whose business involved market timing to defraud at least fifty mutual funds and their long-term shareholders. Beginning in at least September 1999 and continuing through at least June 2003 (the 'Relevant Period'), the Representatives used deceptive trading practices to conceal their identities, and those of their customers, to evade mutual funds' prospectus limitations on market timing. These practices included the use of multiple broker identifying numbers (known as Financial Advisor, or 'FA' numbers) and multiple customer accounts; the use of accounts coded as confidential in PSI's systems; and the Representatives' use of 'under the radar' trading to avoid notice by mutual funds. Typically, mutual funds screened for market timing trades only above a designated dollar amount. The practice of 'under the radar' trading refers to the Representatives' splitting of one trade into numerous smaller ones to avoid detection by mutual funds."

On December 4, 2009, the SEC issued a Notice of Proposed Plan of Distribution and Opportunity for Comment.

On December 4, 2009, a Proposed Plan of Distribution was published.

On February 4, 2010, the SEC approved the Distribution Plan, appointed Rust Consulting, Inc. as the Fund Administrator and waived the bond requirement for good cause shown.

On March 11, 2010, the SEC issued a Corrected Order Directing Disbursement of Distribution Fund.

On September 23, 2010, the SEC issued a corrected ordered directing that: "the Commission staff shall transfer $9,049,251.62 of the Distribution Fund to Deutsche Bank, and the Plan Administrator shall distribute such monies to investors, as provided for in the Plan of Distribution."

On June 10, 2010, the SEC ordered that: "the Commission staff shall transfer $25,777,983.40 of the Distribution Fund to Deutsche Bank, and the Plan Administrator shall distribute such monies to investors, as provided for in the Plan of Distribution."

On July 22, 2010, the SEC ordered that: "the Commission staff shall transfer $34,129,444.46 of the Distribution Fund to Deutsche Bank, and the Plan Administrator shall distribute such monies to investors, as provided for in the Plan of Distribution."

On September 30, 2010, the SEC ordered that: "the Commission staff shall transfer $1,581,119 of the Banc of America Fair Fund and $34,472,433.38 of the Distribution Fund to Deutsche Bank, and the Plan Administrator shall distribute such monies to investors, as provided for in the Plan of Distribution."

On April 22, 2011, the SEC ordered that: "the Commission staff shall transfer $4,095,730.43 of the Distribution Fund to Deutsche Bank, and the Plan Administrator shall distribute such monies to investors, as provided for in the Plan of Distribution."

On June 30, 2017, the SEC announced a Name Change of Appointed Tax Administrator, and amended the Omnibus Order, beginning June 2017 and for calendar year 2018, to replace all references to Damasco with "Miller Kaplan Arase LLP which acquired Damasco & Associates LLP" in order to reflect Damasco's name change.

According to the SEC: "A. The remaining Distribution Fund balance of $1,875,066.41, and any funds returned to the Distribution Fund in the future, shall be transferred to the U.S. Treasury; B. The Fund Administrator, Rust Consulting, Inc. is discharged; and C. The Distribution Fund is terminated."