Business Services Industry
Federal labor officials join insurance probe.
Knight Ridder/Tribune Business News, November, 2004
The Hartford Courant, Conn. Knight Ridder/Tribune Business News
Nov. 5--The U.S. Department of Labor, which regulates employee retirement and health benefit plans, has joined the probe into insurance industry misconduct, according to papers filed with securities regulators Thursday.
Prudential Financial Inc. said it had "received formal requests for information" from state and federal officials, including the labor department, "relating to payments to insurance intermediaries and certain other practices that may be viewed as anti-competitive."
In its filing with the Securities and Exchange Commission, Prudential said it was "cooperating fully with these inquiries." Prudential Financial acquired CIGNA Corp.'s retirement services...
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