SEC Announces Distribution of Prudential Market-Timing Settlement

The Securities and Exchange Commission (SEC) has announced a distribution of nearly $185 million to more than 800 mutual funds that were affected by illegal market timing by broker/dealer Prudential Equity Group, formerly Prudential Securities, Inc.

According to the announcement, the distribution marks the first in a series of disbursements that will total approximately $270 million—the disgorgement amount that Prudential Equity Group was ordered by the Commission to pay in a settlement of the enforcement action (see “Prudential Executive Fined by SEC for Market Timing Scandal”). The Commission issued an order approving the Prudential Distribution Plan on February 4.      

Investors can obtain additional information about the distribution process, including a copy of the Distribution Plan, by visiting or by calling the Fund Administrator, Rust Consulting, Inc., at 866.898.5095.