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Prudential said it regrets its failure to inform regulators. "The board has decided to settle this matter in the best interests of the group and all its stakeholders," Chairman Paul Manduca said in a statement. "We wish to draw a line under the matter, and to ensure our constructive relationship with our regulators remains good." American International Group Inc. had planned to use the proceeds from the sale to make a partial repayment to U.S. taxpayers, who are majority owners of the firm following the U.S. government's $180 billion bailout in 2008.
[Associated
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