Former Goldman, Sachs & Co. banker Neil M. M. Morrison has agreed to a $100,000 fine and a five-year bar from the securities industry to settle Securities and Exchange Commission charges over his involvement in a pay-to-play scheme involving a Massachusetts gubernatorial candidate.

“This is the largest penalty ever imposed by the SEC against an individual for violations of the MSRB pay-to-play rules, and the first time an individual is barred from the securities industry for these violations,” Elaine Greenberg, chief of the SEC enforcement division’s municipal securities and public pensions unit said in a commission SEC’s announcement. “These tough sanctions against Morrison show that we take abuses of the pay-to-play rules in the municipal securities industry very seriously and will hold individuals accountable for their violations.”

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