Life insurance giant Prudential Financial Inc. revealed Friday that several regulators are investigating its mutual fund dealings, Reuters reports.

A Securities and Exchange Commission filing by Prudential said the SEC, along with the NASD, the New York Stock Exchange and New York Attorney General Eliot Spitzer, are looking into information "relating to the purchase and sale of mutual fund shares and variable annuities" by the company.

Prudential went a step further than it had in previous filings, calling the possibility of legal proceedings stemming from the investigations "likely." A Prudential press representative, Robert DeFillippo, even admitted to Reuters that the investigation is "likely to lead to proceedings."

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