The SEC sanctioned former head of PRUSec Private Client (Michael J. Rice) yesterday for "failure to supervise" as it relates to the mutual fund market timing activities which went on in NYC metro and Boston. The sanction was:

 $100K fine and a 1 year suspension from working in this sector

Details can be found under the "administrative actions" section of the SEC's website:

http://www.sec.gov

I am taking a poll (please, only former PRUSec types or others familiar with what went on):

1. fine/sanction was fair

2. fine/sanction was unfair (too harsh)

3. fine/sanction was too light