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SEC Drops Mutual Fund Sales Case

Law360 (February 1, 2007, 12:00 AM EST) -- The U.S. Securities and Exchange Commission has dismissed administrative proceedings against a former Prudential Securities Inc. broker and his supervisor over the allegedly improper sale of mutual funds.

The SEC issued an order instituting administrative proceedings against Robert Ostrowski and his supervisor, Rees Harris, in July 2003, but said Tuesday the dismissal was prompted by certain cases and circumstances that have come up since then.

“When we bring enforcement actions our expectation is that we will proceed to litigate them through trial to a successful result,”...
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