Prudential’s Pruco Securities to Pay $18.3m in SEC Settlement

Pruco Securities to pay disgorgement, prejudgment interest and a civil penalty totaling $18.3m to compensate advisory clients affected by actions that breached fiduciary duty, SEC says.

• SEC says Pruco breached fiduciary duty to clients participating in its wrap fee program, which involves an all-inclusive fee for asset management and trade execution, starting in 2014

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