Prudential Investment Management Services LLC Fined by FINRA
An AWC was issued in which the firm was censured, fined $1,000,000 and required to retain one or more qualified independent consultants not unacceptable to FINRA to conduct a comprehensive review of the adequacy of its compliance with FINRA rules in connection with the violations described in the AWC. Without admitting or denying the findings, the firm consented to the sanctions and to the entry of findings that it disseminated inaccurate information about group variable annuities expense ratios and inaccurate historical performance information about investment options offered in those annuities.
