Fidelity Investments said late Thursday that it disciplined 14 stock traders and that two others have left the company amid an ongoing investigation into whether they accepted excessive gifts from brokers to whom they directed business.

The Boston mutual fund titan issued a statement saying that it has uncovered violations of its gift policies but that the improper behavior did not result in "any financial loss to the Fidelity mutual funds or to any shareholder." In light of these transgressions, Fidelity has strengthened its policies within its investment arm including stricter gifting guidelines and a greater effort to make employees more aware of the rules.

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