Tax accounting franchise H&R Block agreed to pay regulators $825,000 to settle allegations that it helped a hedge fund customer engage in abusive trading practices that harmed mutual fund shareholders.

The NASD said that from October 2002 to July 2003, two brokers and a branch manager in its Orlando office enabled one of the brokersÂ’ customers to sidestep mutual fund controls designed to block or restrict its market-timing transactions. The Kansas City, Mo.-based company will pay a $500,000 civil penalty and another $325,000 in restitution. H&R Block did not admit nor deny any wrongdoing.

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