Lance Brofman, a former principal of Fundamental Portfolio Advisors, a now defunct mutual fund group in New York, has been fined $250,000 by an SEC administrative law judge in New York and barred for life from associating with a broker/dealer, investment adviser or investment company.

Brofman's former company was also ordered to pay a $500,000 fine and Fundamental Service Corp., the fund group's distributor, was also fined $500,000. Registration of the two dormant firms was also revoked.

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