Sunday, August 10, 2008
"Prudential Financial Inc. agreed to settle a [SEC] lawsuit alleging that it had engaged in improper accounting of sham reinsurance contracts with General Reinsurance Corp., the SEC announced Wednesday. No fines were imposed on [Prudential], which didn't admit or deny the SEC's allegations", WSJ, 7 August 2008.
Another SEC triumph. I wonder if Mark Olson's PCAOB did anything to PriceWaterhouseCoopers, Prudential's CPAs? Why ask?