Prudential CEO: Nearing settlement with regulators

After almost 3 years of negotiations with the Securities and Exchange Commission as well other state and federal regulators, Prudential may be close to settling the investigation into unethical trading of mutual funds at its financial advisory unit.

During its fourth quarter report, released late Wednesday, Prudential raised its litigation reserves for the quarter -- a move that shaved off $267 million, or 40 cents a share, from the company's fourth quarter earnings.

Net income for the second-largest U.S. life insurer climbed to $377 million, or 78 cents a share, up from $317 million, or 64 cents a share, a year earlier.

Prudential CEO: Nearing settlement with regulators
Source: CNN Money