Massachusetts Sues Prudential Over Brokers’ Trades
Prudential Short-Term and Late Trading of Shares. Prudential Securities was sued by Massachusetts Secretary of the Commonwealth William Galvin for failing to supervise brokers who allegedly engaged in short-term and late trading of mutual-fund shares. The civil complaint says three former brokers in the firm's Boston office Martin … [Read more...] about Massachusetts Sues Prudential Over Brokers’ Trades
Prudential Ousts 12 Over Probe
Prudential Arbitraging Of Mutual Fund Shares. Prudential Securities has ousted 12 brokers, including the head of its Boston head office, as a result of a US regulator probe into hedge funds' arbitraging of mutual fund shares at the expense of long-term investors. It is the first sign that stockbroking firms, as well as … [Read more...] about Prudential Ousts 12 Over Probe
