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SEC: Two Prudential Subsidiaries To Pay $32.7M For Misleading 94 Funds

TedTed
in The Bullpen
FYI: Two subsidiaries of Prudential Financial Inc. will pay $32.7 million in penalties after failing to disclose conflicts of interest and making misleading disclosures to the boards for 94 funds they advised, the SEC said.

Prudential subsidiaries AST Investment Services Inc. and PGIM Investments LLC (PI) served as investment advisors to 94 insurance-dedicated mutual funds, according to the SEC's order.
Regards,
Ted
https://www.fa-mag.com/news/sec-charges-prudential-subsidiaries-for-misleading-funds-51668.html?print
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