Prudential settlement a watershed

This might be the last big blow to fall upon a defendant in the fund trading scandals. Prudential Financial, a life insurance company, has agreed to pay $600 million to settle charges of inappropriate mutual fund trading. The payment, the second-largest levied in the scandal, also marks the first time an implicated firm has admitted to criminal wrongdoing. Many believe that this marks the high-water point in the probe, which has resulted in many lesser settlements thus far.

For more on the continuing scandal:
- Here's a New York Times article