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UNITED STATES OF AMERICA
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In the Matter of Prudential Equity Group, LLC, Formerly Known as Prudential Securities, Inc. Respondents. |
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NOTICE OF PROPOSED PLAN OF DISTRIBUTION AND OPPORTUNITY FOR COMMENT |
Notice is hereby given, pursuant to Rule 1103 of the Securities and Exchange Commission's ("Commission") Rules on Fair Fund and Disgorgement Plans, 17 C.F.R. § 201.1103, that the Division of Enforcement has filed with the Commission the proposed plan ("Distribution Plan") for the distribution of monies in In the Matter of Prudential Equity Group, formerly known as Prudential Securities, Inc. The Commission issued an Order Instituting Administrative Proceedings, Making Findings, and Imposing Remedial Sanctions Pursuant to Section 15(b) of the Securities Exchange Act of 1934 as to Prudential Equity Group, Administrative Proceeding File No. 3-12400, on August 28, 2006 (the "Order").
Pursuant to this Notice, all interested parties are advised that they may obtain a copy of the Distribution Plan from the Commission's public website, http://www.sec.gov, or by submitting a written request to LeeAnn G. Gaunt, Assistant Regional Director, United States Securities and Exchange Commission, 33 Arch Street, 23rd Floor, Boston, MA 02110. Further, all persons desiring to comment on the Distribution Plan may submit their comments, in writing, no later than 30 days from the date of this Notice:
to the Office of the Secretary, United States Securities and Exchange Commission, 100 F Street, NE, Washington, DC 20549-1090;
by using the Commission's Internet comment form (http://www.sec.gov/litigation/admin.shtml); or
by sending an e-mail to rule-comments@sec.gov.
Comments submitted by e-mail or via the Commission's website should include "Administrative File Number 3-12400" in the subject line. Comments received will be available to the public. Persons should only submit information that they wish to make publicly available.
The Distribution Plan provides for distribution of disgorgement in the amount of $270 million, plus any accumulated interest. The proposed plan provides for distribution of the Distribution Fund to eligible investors in the various mutual funds identified in the plan to compensate them for losses resulting from market timing. If the Distribution Plan is approved, eligible investors will receive a proportionate share of the Distribution Fund as calculated by the Independent Distribution Consultant. The distribution amount will be calculated from information in records obtained from third-party intermediaries. Eligible investors will not need to go through a claims process.
For the Commission, by its Secretary, pursuant to delegated authority.
Elizabeth M. Murphy
Secretary
See also Proposed Distribution Plan
http://www.sec.gov/litigation/admin/2009/34-61117.htm
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