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Prudential probed by Feds, states

/ Source: Reuters

Prudential Financial Inc. on Thursday confirmed it has received additional formal requests for information from federal and state regulators in connection with the purchase and sale of mutual funds.

The Newark, New Jersey-based company said it received requests from regulators including the U.S. Securities and Exchange Commission, the NASD and New York State Attorney General Eliot Spitzer’s office for information. Prudential said it is cooperating with all inquiries, and is conducting its own internal review.

Prudential is one of many mutual fund operators facing queries from regulators after Spitzer launched a far-reaching probe into alleged improper trading practices involving the Canary Canary Capital Partners LLC hedge fund. Prudential was not one of the fund companies he named in his complaint.

Massachusetts regulators are also investigating Prudential and mutual fund companies believed to have had contact with it. Prudential has hired Boston law firm Bingham McCutchen to represent it, a source familiar with the matter said.