Amvescap, the London-based parent of Invesco Funds of Denver and AIM Advisors of Houston, on Tuesday revealed it has agreed to pay $451 million to settle with regulators allegations of improper trading activity at the two shops.

Under terms of the agreement, Invesco will pay $325 million in fines, while the deal carries a $50 million penalty for AIM. Of that $325 million, $215 million is for damages and $110 million in penalties. As for AIM, $20 million is for damages and $30 million in penalties.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.