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Oxford Health Plans Inc. said it is demoting Chief Executive William Sullivan to another senior management position and hired Albert Koch, a corporate restructuring specialist, as interim chief financial officer to replace Andrew Cassidy, who resigned in November. . . . The Securities and Exchange Commission, in its first such case, accused brokerage Rauscher Pierce Refsnes Inc. and a former firm official of defrauding Arizona by selling it Treasury securities at above-market prices. The Minneapolis-based company responded to the civil suit filing by saying it did “absolutely nothing improper.”. . . . Sunglass Hut International Inc. plans to take a “significant” fourth-quarter charge and hired Reebok International Ltd. veteran John Watson as its president and chief executive. The eye-wear retailer said the charge was for actions related to its efforts to curb quarterly losses.

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