Defendant Name:
Pruco Securities, LLC
Defendant Type:
Subsidiary of Public Company
Public Company Parent:
Prudential Financial, Inc.
SIC Code:
6311
CUSIP:
74432010
Document Reference:
34-90790
Document Details
Legal Case Name
In the Matter of Pruco Securities, LLC
Document Name
Order Instituting Administrative and Cease-and-Desist Proceedings, Pursuant to Section 15(b) of the Securities Exchange Act of 1934 and Sections 203(e) and 203(k) of the Investment Advisers Act of 1940, Making Findings, and Imposing Remedial Sanctions and a Cease-and-Desist Order
Document Date
23-Dec-2020
Document Format
Administrative Proceeding
Allegation Type
Investment Advisers/Investment Companies
Document Summary
On December 23, 2020, the SEC instituted settled cease-and-desist proceedings against Pruco Securities, LLC, stating: "These proceedings arise from Pruco’s breaches of fiduciary duty to its advisory
clients that participated in Pruco’s wrap fee programs."
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Censured
Other Compliance Related Undertaking
Various undertakings
Cooperation Before the Resolution
Remedial Acts or Efforts Before the Resolution
Fair Funds
Monetary Penalties:
Disgorgement
Individual:
$12,690,585.00
Shared:
Civil Penalty
Individual:
$2,500,000.00
Shared:
Pre-Judgment Interest
Individual:
$3,061,786.00
Shared:
Total Penalty
Individual:
$18,252,341.00
Shared:
