
NASD fined Prudential Equity Group, Inc. (Formerly known as Prudential Securities, Inc.) and Prudential Investment Management Services LLC, $2 million and ordered the firms to pay customers $9.5 million for sales of annuities, including variable annuities, that violated a New York State Insurance Department regulation and NASD rules. For more info visit https://web.archive.org/web/20041009195203/http://www.nasdr.com/news/pr2004/release_04_007.html