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Prudential Bans Analysts From Talking to Media, Reuters Says

New York, Nov. 22 (Bloomberg) -- Prudential Financial Inc.'s brokerage unit has forbid its analysts from talking to news reporters, Reuters reported.
Prudential Securities said in an internal note that it wants to focus solely on its clients, Reuters said. The brokerage has said that it doesn't face conflict-of interest issues with analysts because it stopped investment banking work almost two years ago, Reuters said.
Prudential became the first brokerage to prohibit its analysts from talking to the media, Reuters said. The new rules apply to researchers who cover industries and individual stocks. Published reports will continue to be available to reporters, Reuters said, according to Steve Buell, head of research at Prudential.
The action was taken to stop investment commentary from reaching people who don't pay for it through some medium.
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