WASHINGTON - An arbitration panel of the Municipal Securities Rulemaking Board has ordered Prudential Securities and a former broker to pay about $460,000 to an investor who bought Executive Life Insurance Co. - backed bonds through the firm.

The taxable deals issued by the Louisiana Agricultural Finance Authority and the Louisiana Housing Finance Agency in 1986 are among a series of troubled bonds nationwide were backed by the insurance company, which was taken over by regulators last year.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.