Pruco Securities, LLC Ordered to Pay Restitution and Fine for Improper Pricing of Investments

On December 26, 2012, FINRA ordered Pruco Securities, LLC to pay $10.7 million in restitution, plus interest, and a $550,000 fine for inaccurately pricing mutual funds. The firm was charged with having an inadequate supervisory system and procedures in place to detect the problem. According to the SEC website, Pruco’s retail brokerage business, COMMAND, mishandled…